- Sales activity continues in MOC- Gravenchon refinery resumes operations



Despite selling pressure, prices in the
European Naphtha Market continued to fall on April 5. Three outstanding offers
were made in the Market on Close evaluation process. One trade was made on an
offer. However, there were no bids for the third consecutive day. The monthly spreads dropped sharply on the day. However, the
market was still backwardated with the April/May spread falling $3/mt to
$10.50/mt. According to market sources,
the Neustadt section of Germany's Bayernoil oil complex was restored to normal
after maintenance. The company announced
that ExxonMobil's Port Jerome–Gravenchon refinery in France had begun its
restart following a strike at the CIM oil terminal near Le Havre. However, industrial action against government's pension
reform continued at other ports and refineries, where it has...