Market participants said this week that due to changes in the winter and summer gasoline specifications in northwestern Europe, some major British oil refiners have started exporting butane cargo steadily, which will put butane prices under pressure.
Wednesday's high-quality offshore butane cargo price was 93% of the naphtha price (CIF Northwest Europe) of 999.25 USdollars/ton, and the price of butane cargo on April 11 was 95% of the naphtha price. Naphtha prices are 1056 US dollars / ton.
Traders said that Shell's 272,000 barrels/day Stanlow refinery, Murco's 105682 barrels/day Milford Haven refinery, and ExxonMobil's 329,500 barrels/day Fawley refinery have started exporting butane offshore trade ships. The average export scale is between 1,000 tons and 3,000 tons.
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