Naphtha spreads falls to two week low

The prompt naphtha inter-month premium dropped US$1.25/ton to a more than two-week low of a US$11.75 backwardation on Wednesday, but physical fundamentals continued to be seen firm ahead of the Lunar New Year festivities in February, as per Reuters. Naphtha cracks also dropped to a more than two-week low of an US$8.02 per barrel discount to Brent crude.
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