Naphtha refining margin in Asia spikes to five month highs

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.




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