Rare spot naphtha of 50,000 tons offered by Saudi Aramco for the second time this month

26-Jul-10

For the second time this month, Saudi Aramco has offered around 50,000 tons of naphtha. The parcel, for August 27-29 loading, is the second rare spot parcel loading from Jubail in less than a month. Saudi Aramco was also forced to sell parcels from Yanbu and Jeddah. The Saudi refiner is likely to push out at least one spot parcel from the port every month after its term buyers had either reduced the volumes, or dropped their contracts citing high premiums.