In our latest naphtha market commentary:
> Asia remains the market-leading region as globally, naphtha prices continued to strengthen this week, further widening the backwardation by $1/mt to currently +$4.75/mt for September/October contracts
> Asia remains the market-leading region as globally, naphtha prices continued to strengthen this week, further widening the backwardation by $1/mt to currently +$4.75/mt for September/October contracts
> A rebalance in the physical market over the course of the week saw premiums of OSN (open spec naphtha) and light naphtha trading higher with heavy naphtha escalators falling as the gasoline market corrected (see gasoline insight dated 8th August)
> With weekly exports out of the USGC rising, sellers are finding Asia an attractive outlet for heavy naphtha
> The continued shortage of Russian naphtha in the market is keeping the arbs from the West supported into Asia for now. With Russian maintenance coming to an end in September, and debates around Russian naphtha exports increasing, does this mark the end of the bull run for Naphtha
