- Premium drops to $208-228/mt- Gasoline-naphtha spread
widens further





European spot MTBE prices fell June 6 on
the back of selling activity and amid lower crude oil prices. MTBE FOB ARA outright prices plunged $13.50/mt
on the day to $1,007.25/mt amid selling activity seen during the Market on
Close assessment process in a rising gasoline environment. The premium
over front-month gasoline swap also dropped $16.25/mt to $208/mt FOB ARA. Asian MTBE
fell $23.24/mt on the day at $944.34/mt FOB Singapore due to reduced market
activity and lower crude prices. The front-month gasoline-naphtha
spread widened $16.25/mt on the day to $219.25/mt, indicating favorable
blending economics. The ETBE spot outright prices stood at
$1,087.25/mt, down $13.50/mt on the day, with the premium over MTBE remaining
stable at $80/mt. A source said, "there should be decent
demand" as "blending...