Weaker North Sea propane prices widennaphtha/propane price spread

摘要

London — Weaker North Sea propane prices havewidened the price spread between delivered cargoes ofnaphtha and delivered cargoes of refrigerated propane,according to industry sources. Surplus North Sea propane isused during the summer as an alternative feedstock tonaphtha by petrochemicals in Northwest Europe with theCIF propane price at a discount to the CIF naphtha price.Based on Platts data, this price spread at the beginning ofApril was only $85/mt, but then widened out to over$200/mt by early May. This resulted in propane becoming avery attractive feedstock for the petchems sector.