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ONGC sells naphtha cargo at $6 a tonne, lowest premium since December

Reuters/Singapore 14 Jun 19 | 11:38 AM

India's Oil & National Gas Corp Ltd has sold a naphtha cargo at close to $6 a tonne over Middle East quotes on a free-on-board (FOB) basis, the lowest premium in more than five months, industry sources said on Friday.

ONGC sold 35,000 tonnes of the petrochemical feedstock for June 20-21 loading from Mumb

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Naphtha has been battered by surplus supplies since the start of the year, with refining margins for the product turning negative last week for the first time in more than a decade. ai on Thursday to Japan's Marubeni Corp, said the sources who track naphtha deals.

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