Asia Naphtha Prices and Cracks Surge on Supply Worries, Freight Costs
Asia’s naphtha refining margin rose to $239 per metric ton over Brent, its highest since July 28, as analysts cited Strait of Hormuz shipping attacks and higher freight costs.
Asia's naphtha market strengthened on Monday, with supply concerns returning after shipping attacks in the Strait of Hormuz. Higher freight costs also reduced arbitrage opportunities, analysts said. The naphtha refining margin climbed to $239 per metric ton over Brent crude, its highest since July 28…