Thursday, July 29, 2010

Naphtha cracks in Asia ease after spiking to three week highs

As part of the market reaction to additional parcels being booked to move West, Asia's naphtha price eased from a 4 week high, while cracks fell from a near 3 week high, as per Reuters. 450,000-500,0000 tons of naphtha have been fixed, or are provisionally booked, for July-August lifting from the Middle East and the Suez to the West as traders tackle heavy stockpiles in Asia.

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