Asian naphtha soars as crude prices rally; European cracks gain on spot rise.

摘要

Regional naphtha prices closed at $1,063.50/mt cfr Japan on April 11, the highest level since July 2008, as Asian demand for gasoline blending supplies is rising amid limited naphtha exports from Europe. Asian naphtha prices are seen climbing through mid-May as high crude values and geopolitical unrest remain supportive factors. However, Chinese naphtha prices are seen weakening as stricter rules for credit lending have limited consumption.