- MTBE premium falls $20-25/mt on day- Gasoline-naphtha Spread Widens to $276.50-291.75/mt



The premium over gasoline plunged as
upstream prices soared. Outright
MTBE prices FOB ARA fell $3.50/mt to $1,006.75/mt due to selling interest
during S&P Global Commodity Insights' Market on Close assessment. Despite this, MTBE's premium over gasoline front-month fell
by $20/mt and now stands at $179.75/mt. This is despite the fact that gasoline
prices are high. A source stated that MTBE
demand wasn't "huge," but was healthy during the summer driving
season, which increases the need for gasoline, octane boosts, and MTBE. From the Middle East and US, volumes were heard heading to
Europe. The front-month-gasoline-naphtha
spread widened $10.50/mt to $276.50/mt amid increasingly favorable blending
economics. Gasoline stocks in the
Amsterdam-Rotterdam-Antwerp hub declined to 1.27 million mt on the week to June
15 due...