The global Naphtha market witnesses a price gain along with favourable profit margins. With the week ending on January xxth, Naphtha prices in the US market saw a nearly x.xx rise, moving from USD xxx/MT to USD xxx/MT. The surge is attributed to disruptions causing challenges in transportation, leading to higher freight charges and insurance costs. Efforts by the country to reroute vessels further complicate the task of stabilizing prices. The combination of these factors, including rerouting initiatives, is driving up production costs and subsequently increasing Naphtha prices. Approximately xxx tankers, carrying around xx million barrels of crude oil and fuels, have been diverted from the Red Sea due to attacks by Yemen&#xx;s Houthis using drones and missiles.
In Asia, the gasoline refining profit margin extended gains, and Naphtha markets gained further momentum after a tanker owned by Trafigura was attacked in the Red Sea, heightening concerns...
