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S Korea YNCC buys naphtha at $10/T premium, highest since May 2018

South Korea’s YNCC bought naphtha on Thursday at a premium of about $10 a tonne to Japan quotes on a cost-and-freight (C&F) basis, industry sources said, marking the highest price it has paid since May 2018, Reuters data showed.

The petrochemical maker’s purchase of the cargoes for first-half November delivery came after two of Saudi Aramco’s oil facilities were attacked on Sept. 14, causing widespread concerns of supplies tightening.

Saudi Aramco is the third largest Middle Eastern supplier of naphtha to Asia after the United Arab Emirates and Qatar.
Source: Reuters (Reporting by Seng Li Peng; editing by Jason Neely)

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