Oversupply of Naphtha Still Not Dissolved in Asia

摘要

Oversupply of naphtha has still not been dissolved in Asia and the bearish sentiment at the market has continued.The current intermonth spread between the naphtha contracts for second-half October and second-half November wasassessed at minus around US$0.5/MT. The market has been in contango since September 2nd.Since traders and buyers got together to attend Asia Pacific Petroleum Conference (APEC 2015) held in Singaporelast week, almost Asian buyers took no action to procure spot cargoes.