Asia naphtha swap contango widens to largest in 1 year on weak fundamentals

The Asia naphtha paper market reached its widest contango structure in over one year on a lack of demand recovery from olefin producers, ample supply from high refinery production and a steady inflow of Russian shipments. The Platts-assessed front-month July-August Mean of Platts Japan naphtha swap time spread – a key indicator of near-term sentiment in the complex – fell…