India’s Essar Oil has sold an August naphtha cargo to Japan’s Petro-Diamond at about $16.50 a tonne above Middle East quotes on a free-on-board (FOB) basis, up at least 10 per cent from a previous deal, traders said on Thursday. <\/p>\n
Essar Oil sold up to 35,000 tonnes of the fuel for Aug. 27-31 loading from Vadinar late on Wednesday, coming at a time of stronger fundamentals for sellers as the supply glut was seen easing. <\/p>\n
The Indian refiner had previously sold a July cargo to an undisclosed buyer at premiums of $14 to $15. <\/p>\n
So far, India has offered some 510,000 tonnes of naphtha for August loading through tenders, and has sold most of it. <\/p>\n
The export volumes are similar to what India had offered for July but fewer incoming cargoes from Europe and the Mediterranean arriving in Asia in September and a lack of cheap alternative liquefied petroleum gas (LPG) to replace naphtha are helping to boost sentiment. <\/p>\n
The Asian naphtha crack, the premium\/loss in refining a barrel of Brent crude into the light fuel, was near a two-month high of $98.13 a tonne on Wednesday, Reuters data showed.<\/p>\n","protected":false},"excerpt":{"rendered":"
India’s Essar Oil has sold an August naphtha cargo to Japan’s Petro-Diamond at about $16.50 a tonne above Middle East quotes on a free-on-board (FOB) basis, up at least 10 per cent from a previous deal, traders said on Thursday. Essar Oil sold up to 35,000 tonnes of the fuel for Aug. 27-31 loading from Vadinar late on Wednesday, coming at a time of stronger fundamentals for sellers as the supply glut was seen easing. The Indian refiner had previously sold a July cargo to an undisclosed buyer at premiums of $14 to $15. So far, India has offered some […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[133],"tags":[],"class_list":["post-27663","post","type-post","status-publish","format-standard","hentry","category-oil-gas"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/27663","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=27663"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/27663\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=27663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=27663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=27663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}