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Premiums surge as Iran war disrupts Asia's naphtha supply
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In response to the heightened tensions in the Middle East and the resulting supply concerns regarding naphtha derived from crude oil, the Agency for Natural Resources and Energy announced on the 31st that, thanks to progress in alternative procurement efforts, it expects to procure 900,000 kiloliters of naphtha from sources outside the Middle East in April, double the normal amount. This follows traditional procurement methods, including from th…
Premiums surge as Iran war disrupts Asia's naphtha supply
Naphtha used to produce petrochemicals Asia usually relies on Gulf naphtha Runs are being cut Asian producers of plastics and packaging face surging premiums that are already hitting output at petrochemical plants as they are cut off from Middle East naphtha due to the Iran war. Benchmark prices for first-half May cargoes soared to around $1,300 a ton on Monday, nearly double pre-war levels. The rush to source naphtha sent the prompt-month sprea…
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