Asia’s naphtha prices and refining margins jumped to their highest since 2014 propelled by strong demand growth for the petrochemical feedstock and as alternative liquefied petroleum gas (LPG) becomes expensive amid a global power crunch. LPG prices from the United States, Middle East and Europe have jumped by roughly a third in the past three .
Oil refiners are ramping up output to meet a synchronised uptick in demand across Asia, Europe and the United States, but plant maintenance and high natural gas prices will constrain supply in the fourth quarter, company officials and analysts said. This comes as profits for producing ground transportation fuels such as diesel and gasoline have .
Asia's naphtha prices and refining margins jumped to their highest since 2014 propelled by strong demand growth for the petrochemical feedstock and as alternative liquefied petroleum gas (LPG) becomes expensive amid a global power crunch.
Oil refiners are ramping up output to meet a synchronised uptick in demand across Asia, Europe and the United States, but plant maintenance and high natural gas prices will constrain supply in the fourth quarter, company officials and analysts said.