Naphtha crack in Asia edged down but remained near its highest level in over 8 months amid strong petrochemical demand and tighter supply from Europe and India, as per Reuters.
India's Chennai Petroleum Corp, owned by Indian Oil Corp (IOC), shut its 210,000 bpd Manali refinery on Wednesday night due to heavy flooding in the southern state of Tamil Nadu. The shutdown could further tighten naphtha supply to Asia, although it remained unclear how shipments to and from the plant had been affected. Marubeni last month lifted a naphtha cargo from Chennai, although details of subsequent shipments from the plant were also unclear. Naphtha supplies from India were already tighter than usual as more was being blended into gasoline to meet strong demand for the transportation fuel in the country.
08-Dec-15 
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