Friday, January 15, 2010

Asian naphtha cracks rebound to highest level in 25 days on firm sentiment despite weaker premiums

Asian naphtha cracks rebounded to their highest in 3 and a half weeks as market sentiments firmed up at a time of weaker premiums coupled with Taiwan having fulfilled its February needs.

Taiwan's Formosa bought up to 150,000 tons of naphtha for H2-February arrival at a premium of about US$12.

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