Asian naphtha prices move above $400/ton threshold
Spot naphtha prices in Asia increased $30/ton week over week to be currently reported at around $400-405/ton CFR Japan, hitting the highest levels seen since early January 2016, according to weekly average prices on ChemOrbis Price Wizard. Meanwhile, spot naphtha prices in Europe also rose about $25/ton on the week to be currently reported at around $380-385/ton CIF NWE.
Recently, crude oil prices have moved above the $40/barrel threshold. On Wednesday, NYMEX May crude settled at $41.76/barrel while ICE June Brent crude settled at $44.18/barrel.
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