- MTBE premium Stable at $319-350/mt- Two-month low in
gasoline-naphtha spread



On July 13, the spot European MTBE price
dropped further, following the trend in related energy markets. In line with the Eurobob gasoline swap's
front-month drop, the European MTBE price outright was down $27.50-33.50/mt to
$1,356-1,380/mt FOB ARA.MTBE’s premium was unchanged at $319-350/mt over the EBOB FOB AR M1 swap, despite no activity during the Market on Close assessment process. Recent
sources claim that European MTBE demand remains healthy despite a tapering
gasoline/naphtha spread showing weaker blending economics. The spread
between front-month gasoline and front-month naphtha fell from $30-35/mt to $290-320/mt,
the lowest level since May 12. Asian MTBE prices fell $51-56/mt on
the day to $1.038-2.500/mt FOB Singapore, July 13, in response to lower
gasoline prices in Asia. Due to lower gasoline...