European spot naphtha market tracks Brent crude oil slump
by ChemOrbis Editorial Team - content@chemorbis.com
Spot naphtha markets in Europe have been on a downward trend since the first week of April. This corresponds to the time when global oil benchmark Brent crude oil futures started to decline.
The pace of declines in spot naphtha prices gained steam on Tuesday, tracking the $6.24/barrel daily slump in Brent crude oil futures.
Accordingly, the weekly average data of ChemOrbis Price Wizard shows that spot naphtha prices on FOB NWE basis plunged by almost $50/ton on Tuesday, April 21 to be reported at around $135/ton.
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The pace of declines in spot naphtha prices gained steam on Tuesday, tracking the $6.24/barrel daily slump in Brent crude oil futures.
Accordingly, the weekly average data of ChemOrbis Price Wizard shows that spot naphtha prices on FOB NWE basis plunged by almost $50/ton on Tuesday, April 21 to be reported at around $135/ton.
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