Naphtha refining margin in Asia spikes to five month highs

11-Sep-12
Asia's naphtha market gained strength on Monday as prompt refining margin inched up to its highest in five months amid firm demand, as per Reuters. The October margin rose 7 cents to a discount of US$5.45 a barrel to Brent crude, its highest since April 13. Naphtha cargoes continued to be traded at high premiums. India's Mangalore Refinery & Petrochemicals Ltd (MRPL) sold 35,000 tons of naphtha for October loading, at a record premium of US$46/ton to Middle East quotes on a free-on-board (FOB) basis. CFR Japan's September/October timespread inched up 75 cents to a backwardation of US$11.25/ton, while the October/November timespread was 25 cents down at US$9.75/ton.
  More News  Post Your Comment
{{comment.Name}} made a post.
{{comment.DateTimeStampDisplay}}

{{comment.Comments}}

COMMENTS

0

There are no comments to display. Be the first one to comment!

*

Name Required.

*

Email Id Required.

Email Id Not Valid.

*

Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.
*

Message Required.

Click to Change image  Refresh Captcha