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Pressure mounting for Naphtha cracks and spot premiums

Oil
 

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. 

 

Further information on FGE's East of Suez Oil Service can be found online by clicking on the link below.

 

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