Asian naphtha prices break below $350/ton
Spot naphtha prices in Asia declined around $75-80/ton week over week to be currently reported at around $345/ton CFR Japan, hitting the lowest levels seen since late January 2009, according to weekly average prices on ChemOrbis Price Wizard.
On Tuesday, NYMEX February crude declined 97 cents to settle at $30.44/barrel while ICE February Brent crude was down 69 cents to settle at $30.86/barrel. The current oil prices represent the lowest levels in almost twelve years because of oversupply concerns, weak demand and economic uncertainty in China and other emerging markets.
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