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Intermonth spreads are weak amid uncertainty-
Summer spec is gaining ground



Sources
say that intermonth spreads in Europe's naphtha market fell for the third day
amid high levels of uncertainty. It takes time to understand
the economics. The front-month CIF NWE naphtha Swap was down $17/mt
at $706.75/mt. CIF naphtha swap spread for March/April was 25 cents/mt
at $11/mt. April/May was 50c/mt lower at $10.75/mt. While dispatching
oil products from French refineries was stopped on the Day as staff
participated in a nationwide protest against the government's pension
Reform. The spread of CIF naphtha swaps was down 25 cents/mt atb>
/b>$11/mt, while April/May was 50 cents/mt lower at $10.75/mt. Meanwhile,
dispatching oil products by French refineries was stopped on the day that staff
joined a nationwide protest against the government'sb>?/b>pension
reform. CIF NWE naphtha swap discount for the equivalent gasoline swaps...