Wed Feb 3, 2010 12:07am IST
LONDON, Feb 2 (Reuters) - European gasoline and naphtha
prices rose on Tuesday, marginally exceeding gains in crude oil
prices.
Gasoline was continued to support by spot demand from Saudi
Arabia and West Africa.
Saudi Arabia was expected to purchase up to 28,333 barrels
per day (bpd) of gasoline for delivery in February, more than
for January. [ID:nLDE6110DF]
Restart of petrochemical cracks supported naptha prices,
offsetting the limited arbitrage to Asia, traders said.
All three of German chemicals company BASF's (BASF.DE: Quote, Profile, Research)
European petrochemical steam crackers are now online following
two restarts in January after fires, a company spokeman told
Reuters on Tuesday. [ID:nLDE61128P]
"Cracks (of naphtha) are positive today. Good news for BASF
with decent margins on the petrochemicals," one trader said.
Source: http://in.reuters.com/article/oilRpt/idINLDE6112IQ20100202
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