NEW DELHI: Asia’s naphtha crack rose on Friday and posted a weekly gain of over 4%, after a rise in crude oil benchmarks supported prices.
The crack rose to $140.30 per tonne, up $2.07 from the last close. The inter-month spread between first-half March and April widened in backwardation to $12.50 a tonne.
However, naphtha margins posted a loss of nearly 15% this month as petrochemical crackers in the region reduced their runs.
Meanwhile, stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area were steady at 196,000 tonnes in the week to Thursday, data from Dutch consultancy Insights Global showed.
Oil prices rose on Friday, set for their sixth weekly gain, amid concerns of tight supplies as major producers continue their policy of limited output increases amid rising fuel demand.
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