European Naphtha Exports to Asia May Tumble: Energy Markets

Naphtha exports from Europe to Asia may drop to zero this month as demand from Chinese chemical producers slows, making forward prices more expensive than those for prompt delivery for the first time in eight months.

There may be no shipments of the oil product, used to make gasoline and petrochemicals, in July, compared with 300,000 metric tons in June and 500,000 tons in May, according to the median estimate in a Bloomberg survey of six Europe-based traders, who declined to be identified as they aren’t authorized to speak on transactions. The last time there were no European exports to the region was in March, the traders said.