Naphtha Margin Jumps Amid Steep Backwardation
Asia's naphtha refining margin increased on Tuesday as crude oil benchmarks weakened and a steeply backwardated price structure persisted, driven by geopolitical uncertainty. The crack rose approximately $14 to $184 per metric ton over Brent crude.
Asia's naphtha refining margin rose on Tuesday after crude oil benchmarks weakened and the price structure stayed steeply backwardated amid geopolitical uncertainty, traders and analysts said. The crack widened by about $14 to $184 per metric ton over Brent crude. The backwardation between second-h…