Naphtha moves east

摘要

Demand from the Mediterranean and outside Europe sup-ported naphtha,but diesel came under pressure as demand slowed.A vacuum gasoil(VGO)surplus kept a lid on European values for the product. In the Mediterranean,petrochemicals firms are seeking naphtha to supply to Lavera,which receives some cargoes from the Black Sea.Gunvor is looking for a cargo from Tuapse,while Statoil is looking to load a cargo at Mongstad, Norway,both for delivery to Asia-Pacific,as arbitrage has opened.Novatek chartered the Dubai Beauty to take 80,000t to Asia-Pacific from Ust-Luga at the end of the month