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From Flying Shama, 4 Months ago, written in Plain Text.
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  1.  The gas discount rate to naphtha-- normally the differential in between the front-month CIF NWE naphtha swap and the comparable CIF NWE propane swap-- expanded to a 16-month high of minus $186.75/ mt Monday, up from $177.75/ mt Friday, as the gas market damaged while the naphtha market stayed steady, sustained by an open arbitrage to Asia, trading resources said.
  2.  The last time the discount rate was as wide was March 7, 2013, when it was examined at minus $186.75/ mt, Platts information programs.
  3.  Front-month naphtha swaps were evaluated down $1/mt at $930.75/ mt Monday, while the propane swap was up to $744/mt, down $10/mt.
  4.  The July CIF NWE propane/CIF NWE naphtha spread was seen deviating even more on Tuesday morning, listened to at minus $190/mt, according to market sources.
  5.  https://www.irocoatingadditive.com in propane/naphtha swap worths was credited to a weakening gas complicated, and mirrored in a comparable descending trajectory in physical big freight costs.
  6.  Imports into Europe have evaluated on values as the extra supply has actually been competing with local production at a time of generally low need.
  7.  A minimum of 2 VLGC's lugging gas were said to have been imported into Northwest Europe until now this month, with one more due for July or early August arrival.
  8.  " This extra supply undoubtedly presses the prices down ... there is size for certain," a source said.
  9.  " North Sea production is good and also there is no inland demand so petrochemicals will certainly need to take it all."
  10.  Physical prices tracked the $10/mt decrease in the paper market to be analyzed down $11/mt at $758/mt.
  11.  European naphtha, on the other hand, was mixed Monday as naphtha splits climbed while basics continued to be uninspired, with an open arbitrage from the Mediterranean to Asia just partially countering slowing down neighborhood demand from fuel mixers.
  12.  The August CIF NWE crack reinforced to minus $2.80/ barrel Monday from minus $3.40/ b Friday, while front-month East/West spread was oscillating around a five-month high of $19.50/ mt.
  13.  " The paper market is driven by Asia, as well as when we see splits increasing, that's also because crude futures are dropping," stated a naphtha investor.
  14.  " The stamina in the Eastern naphtha market is the only thing driving the European market currently as there is more than enough supply in Northwest Europe," stated a petrochemical end-user.
  15.  " A larger propane/naphtha spread indicates that LPG fracturing will certainly proceed, yet not really raise as we have actually already gotten to quite a high level of LPG consumption."
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