India's Oil and Natural Gas Corp (ONGC) has sold a May naphtha cargo at about US$25/ton above Middle East quotes on a free-on-board (FOB) basis, down nearly 11% and 33% versus two April cargoes it sold from Hazira, as per traders in Reuters.
This premium for the Hazira cargo reflects a softer sentiment as talk of high volumes of naphtha arriving in Asia next month from Europe/the Mediterranean have dragged prices down. Traders said the market has been volatile due to a lack of clear direction but overall sentiment was geared towards the bearish mode.
30-Apr-15 
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