Tuesday, July 27, 2010

Cracks spike in Asia as naphtha moves West

Naphtha prices in Asia have spiked by ten dollars, touching a three-week high, with physical cracks having surged to their highest in more than two weeks, as cargoes head West. About 300,000 tons of MMiddle Eastern and Suez naphtha cargoes have either been fixed, or provisionally booked for July-August lifting in a rare move to the West to help ease the high stockpiles in Asia.

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