NWE Aug naphtha crack swap retreats after closing at two-month high

10-Jul-12

At the beginning of the week, CIF Northwest Europe (NEW) August naphtha crack swap slipped to around minus US$9/barrel, after posting a two-month high on Friday's close, as per Platts. A crack measures the difference between the price of oil and the concurrent price of products made from crude.At Friday's European close, the CIF NWE August naphtha crack swap was up on-the-day at minus US$8.70/b, the highest since April 30 when it was at minus US$8.40/b, Platts data show.