Naphtha prices in Asia rise amid refinery turnarounds

摘要

Despite lower crude prices, Asian naphtha values are expected to remain higher in Sept. as a result of India producing less due to scheduled refinery turnarounds. Shipments of Indian naphtha will drop from 900K mt (21K b/d) in Aug. to less than 850K mt (19.8K b/d) in Sept. As flows from Europe remain limited, naphtha's crack spread and backwardation should rise as Asian spot tenders are also expected to get higher premiums as supply will be higher than demand.