Asia Naphtha/Gasoline — Naphtha prices ease; SCG Chemicals restarts Rayong plant
NEW DELHI, Sept 18 (Reuters) — Asia's naphtha price fell for a third straight day, mirroring the weakness in crude oil benchmarks, but concerns around supplies lingered in a steeply backwardated market. The price for first-half November naphtha fell by $18 to $924.75 per metric ton. The crack for naphtha fell by about $8 to $151.95 per ton over Brent crude in a wide backwardation of $28.75 a ton, market participants estimated. Thai petrochemical company Rayong Olefins has restarted its naphtha-fed cracker on Thursday, the company's parent SCG Chemicals said in a stock exchange filing. The plant had declared force majeure in March due to Middle East conflict. In the gasoline market, Pakistan's PSO bought two cargoes of October delivery fuel at a premium of around $25 per barrel to Middle East quotes, traders said. The company is yet to award another cargo, smaller in size, for October in a tender that closes on September 22, they said. MOG/TENDA News - Oil prices fell on Friday, extending losses for a third straight session as easing concerns over Saudi supply disruptions outweighed anxiety about a widening of conflict across the Middle East. O/R - Abu Dhabi National Oil Co has boug
NEW DELHI, Sept 18 (Reuters) — Asia's naphtha price fell for a third straight day, mirroring the weakness in crude oil benchmarks, but concerns around supplies lingered in a steeply backwardated market. 75 per metric ton. 75 a ton, market participants estimated. Thai petrochemical company Rayong Olefins has restarted its naphtha-fed cracker on Thursday, the company's parent SCG Chemicals said in a stock exchange filing.
The plant had declared force majeure in March due to Middle East conflict. In the gasoline market, Pakistan's PSO bought two cargoes of October delivery fuel at a premium of around $25 per barrel to Middle East quotes, traders said. The company is yet to award another cargo, smaller in size, for October in a tender that closes on September 22, they said. MOG/TENDA News - Oil prices fell on Friday, extending losses for a third straight session as easing concerns over Saudi supply disruptions outweighed anxiety about a widening of conflict across the Middle East.
O/R - Abu Dhabi National Oil Co has bought millions of barrels of discounted crude from Iraq's state oil firm, three people familiar with the matter said, expanding its role as a trader amid supply disruptions from the Iran war. Singapore Cash Deals O/AS One gasoline trade. 75 -18. 00 -18.
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