Pressure mounting for Naphtha cracks and spot premiums
September 01, 2014
Who was cited:
Premiums for naphtha spot cargoes into North Asia have fallen sharply, coinciding with the decline in naphtha cracks over the past month.
September loading cargoes changed hands for premiums of $8.50/mt in late July, but fell to $5/mt in the first week of August. Naphtha cracks had drawn support from a strong gasoline market over July, but with gasoline length expected to rise over the rest of Q3, naphtha cracks and spot premiums will remain under pressure.
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