Higher naphtha demand in Europe shuts arbitrage window to Asia despite lower freight

Strength in the European naphtha complex has crunched the East-West spread even as freight costs tumble to a near 10-month low, exacerbating the tight supply situation in Asia. The July East/West spread – the premium of the CFR Japan naphtha cargo swap over the CIF NWE equivalent – was assessed at $12.50/mt at the Asian …

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