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Asian arbitrage naphtha imports to rise

Oil

Asia's long-haul naphtha imports for June delivery are expected to rise to 1.8-1.9Mt, up from an initial estimate of 1.7-1.8Mt, reports ICIS. The April volumes, which arrived from NWE, the Med, Russia and the US, were estimated at 1.6-1.8Mt. May volumes are now estimated higher due to cracker outages in Europe which is curbing domestic use. A cracker in Spain has been shut this week due to technical issues while one in Germany has been offline since early May due to a fire.