Delays shore up naphtha

摘要

1. Delays to naphtha cargoes arriving in Asia-Pacific boosted prompt values. But plentiful supplies for other products weighed on refining margins. 2. Prompt naphtha values rose to a premium to forward contracts for the first time in almost two months on tightening supplies (see graph, left). Bad weather has delayed cargoes from the Mediterranean and the Black Sea. And India’s February exports are expected to fall sharply as refiners focus on meeting domestic gasoline demand.