(Reuters) -- Naphtha prices in Asia was at a
three-session high on Tuesday in line with firm Brent crude, while cracks and
timespreads recovered from a two-month low amid slow moving cargoes from Europe
to the East. Naphtha exports have slowed down from Europe due to strong demand
for gasoline.
Open-spec naphtha for front-month H2-May was at
USD1075/ton, while cracks were at a two-session high of USD139.75/ton, up
USD3.67.
However, despite this uptrend, market players are unconvinced
that the strength could last, especially when Asian demand is slower than
before, as a result of cracker outages in the region. Concurrently, India's
exports are being restored following refinery and port maintenance. |
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