- Subdued Demand exceeds supply- New disruptions at the French
refining plant





Sources said that the European naphtha
market was less strong on March 9 due to a continuing resilient supply and
slow demand. "This market is depressing. One source stated that nothing is happening
on the demand side. The low trading activity was due to tough fundamentals
in the petrochemical sector. Sources said that supply conditions
were stable with barrels coming from the Mediterranean. "There
have been no changes in supply, and [Russian] sanctions tend to be priced
into." The market is still demand-driven right at
the moment, and petchems remain quiet. "Refinery
news: The market seems demand-driven at this time, and petchems are still quiet. The spread
of the March/April CIF Naphtha Swap was at $10/mt and April/May at $9.25/mt was
at 50 cents/mt. However, April/May was at $145.75/mt. Petrochemical feedstocks
saw...