India's MRPL naphtha sales premium falls to more than 1-year low

SINGAPORE,  (Reuters) - India’s Mangalore Refinery and Petrochemicals Ltd naphtha sales premium has fallen to a more than one-year low as high supplies weighed, three traders who track the deals closely said.

MRPL sold 35,000 tonnes for Oct. 7-9 loading from New Mangalore to Socar at around $10 a tonne above Middle East quotes on a free-on-board (FOB) basis.

That was down from an average $15 a tonne premium it had fetched for two cargoes sold for September loading. It was also the lowest premium MRPL has fetched since it sold cargoes for September 2017 loading.

(Reporting by Seng Li Peng)

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