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Asian naphtha rebounds from 11-year low crack but trade concerns remain
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Refineries worldwide have been consuming more light sweet crude oil, resulting in an oversupply of light distillates products market. In the second quarter, naphtha was the worst performer across the barrel in Asia. The Asian naphtha crack against ICE Brent crude fell close to an 11-year low to minus $14/mt in early June. Editors Sue Koh and Wendy Cheong examine why the market expects naphtha cracks to remain bleak and what factors might affect prices in the second half of 2019.
