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Asian naphtha prices break below the $500 threshold

by ChemOrbis Editorial Team - content@chemorbis.com
  • 17/12/2014 (14:29)
According to ChemOrbis Price Wizard, spot naphtha prices in Asia have broken below the $500 threshold to post their lowest levels since May 2009 as crude oil prices continue to decrease on the back of a supply surplus.

Spot naphtha prices in Asia decreased around $50/ton week over week to be currently quoted at around $495/ton CFR Japan. Spot naphtha prices in Asia have declined around $105/ton from the beginning of December.

Meanwhile, Brent January crude futures settled below the $60/barrel threshold on December 16, hitting the lowest level since May 2009 on a weekly average basis while NYMEX crude closed below $56/barrel, hitting the lowest level since May 4, 2009, according to ChemOrbis Price Wizard.

NYMEX January crude was up 2 cents to settle at $55.93/barrel on Tuesday while Brent crude on the ICE Futures Europe exchange for January was down $1.20 to settle at $59.86/barrel.
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