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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL PRODUCTS
East Asia naphtha imports from West of Suez are set to drop in April, according to BNEF.
- According to Bloomberg calculations, the current arbitrage index to pull naphtha from NWE to Japan is minus $51/mt, when including the price of the product plus delivery costs.
- However, netback margins have improved since March, amid a softening in freight rates.
- USGC naphtha exports to Asia have seen a lull since February due to poorer margins for the naphtha based petrochemical producers.
- The equivalent arbitrage index for USGC-Japan naphtha flows is minus $224/mt, according to Bloomberg.
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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