Platts corrects July 6 naphtha assessment rationales

Please note that Platts has corrected the July 6 rationales for the CIF NEW and FOB Mediterranean naphtha cargo assessments.

The CIF NWE rationale should read as follows:

The CIF NWE naphtha cargo assessment was based on the relationship between the physical and swaps markets in the absence of competitive indications seen in the Platts Market on Close assessment process.

This represented a differential of $17.37/mt, broadly stable versus the previous day's differential of $17.38/mt. No market data was excluded from the July 6 assessment process.

The FOB Mediterranean rationale should read as follows:

The FOB Mediterranean naphtha cargo assessment was derived as a freight netback from the CIF NWE naphtha cargo assessment, using the following assessments: CIF NWE naphtha cargo assessment minus the cost of transporting a 27,500-mt naphtha cargo from Alexandria in the Mediterranean to Rotterdam.

The corrections affect only the rationales, not the assessments. The rationales are published on PGA page 1386 and in Platts European Marketscan.