Kuwait Petroleum Corp. has set the premium for a year’s supply of naphtha starting in August at $24 a metric ton to benchmark Middle East prices, higher than April’s rate, according to two people with direct knowledge of the talks with Asian buyers.
The company set the August premium for full-range naphtha below the $28 a ton it offered last week during discussions in London, the people said, declining to be identified because the talks were confidential. Nobody answered a telephone call to KPC’s marketing department nor the general line in Kuwait.
The premium set for the August annual contract is $2 a ton higher than the $22 a ton set for a year’s supply beginning in April, according to data compiled by Bloomberg.
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