SINGAPORE: Yemen's Aden Refinery has sold 28,000 to 30,000 tonnes of light grade naphtha for late July lifting to Glencore but has skipped selling its heavy grade for the same period for the first time this year, traders said on Thursday.
The cargo, scheduled for loading from July 25 onwards, was sold at a premium of $16 to $18 a tonne to Middle East quotes on a free-on-board (FOB) basis.
Aden Refinery usually sells both light and heavy naphtha on a co-loading basis.
It had previously sold a total of 40,000 tonnes of light and heavy grade naphtha for June 12-14 loading to Glencore at premiums of $37 to $39 a tonne.
Traders said Aden may have used the heavy naphtha as a feedstock for gasoline although this could not be confirmed.
Gasoline is in tight supply in Asia, prompting sellers to move motor fuel from Oman and United Arab Emirates this month to Indonesia to meet its demand. (Reuters)
