There have been opposing strengths in Europe and Asia. The Sep/Oct NWE naphtha spread softened in the past 2 weeks, from $5.00/mt on 17 July to $2.75/mt on 29 July, before some support was seen to $3.25/mt on 30 July as MOC buying lent some support in the morning.
MOPJ spreads saw quite muted price action until they sold off significantly from 24 July. FEI/MOPJ was well bid, but the stronger crude structure pressured MOPJ, and we saw physical selling.
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