Asia’s naphtha prices gained on Tuesday in tandem with a rise in crude oil benchmarks, with demand supported by South Korean purchases and outages in the Middle East.
The second-half October naphtha cargo traded at $602.50 per ton, compared with $598 a day earlier, while the crack declined by about $4 to $86.13 a ton over Brent crude.
Meanwhile, Saudi Aramco’s September official selling prices (OSP) was stable at $520 per metric ton (PRO-OFFCL-SA) for alterna
tive feedstock propane and at $490 per ton (BUT-OFFCL-SA) for butane.
Sonatrach increased its September OSP for propane by $5 per ton to $450 (PRO-OFFCL-DZ) and for butane by $10 per ton to $425 (BUT-OFFCL-DZ).
NEWS
– Russian oil product exports from the Black Sea port of Tuapse are set to rise to 1.098 million metric tons in September, up 6.2% on a daily basis from 1.068 million metric tons scheduled for August, two traders said on Tuesday.
– Saudi Aramco and Iraq’s state oil company SOMO have stopped selling crude oil to India’s Nayara Energy in the aftermath of sanctions imposed in July by the European Union on the Russian-backed refiner, three sources familiar with the matter said.
– Oil prices rose on Tuesday as concerns about supply disruptions grew amid an escalation of the conflict between Russia and Ukraine, and as the market weighed whether upcoming U.S. jobs data would lead to interest rate cuts.
Source: Reuters