HPCL Naphtha Tender Offers 31,500 MT

Asia and Middle Eastern Naphtha Daily Market Analysis / India’s HPCL offers 31,500 mt naphtha for April 10-17 loading / Russia’s Ust-Luga port damaged after drone attack

Jun 02, 2026

The Asian naphtha market saw the emergence of HPCL’s tender, along with signals from the US and Iran of efforts toward ending the war April 1. US President Donald Trump told reporters at a March 31 press briefing in the Oval Office that Washington could end its military campaign against Tehran and withdraw “within two weeks, maybe three weeks.” He added that reaching a deal with Iran is not a prerequisite for the Trump administration to wind down its operations in the Middle East. Brokers pegged the front-month May-June Mean of Japan swaps time spread at $73/mt in midafternoon Asian trading April 1, down $2/mt from the previous Asian close. A tender from India’s HPCL emerged, offering up to 31,500 mt of naphtha for April. It is offering 21,000 mt...

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