Asian naphtha prices break below $300/ton
Spot naphtha prices in Asia declined $30-35/ton week over week to be currently reported at around $290-295/ton CFR Japan, hitting the lowest levels seen since late January 2009, according to weekly average prices on ChemOrbis Price Wizard. Meanwhile, spot naphtha prices in Europe also declined around $15-20/ton on the week to be currently reported below $300/ton at around $280-285/ton CIF NWE.
On Tuesday, NYMEX March crude rose $1.11/barrel to settle at $31.45/barrel while ICE March Brent crude was up $1.30/barrel to settle at $31.80/barrel. However, the current oil prices still represent the lowest levels in almost twelve years.
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