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Naphtha prices drop below the $400 threshold in Asia

by ChemOrbis Editorial Team -
  • 14/01/2015 (11:53)
Global naphtha prices continue to post fresh lows due to persistently declining crude oil prices. According to ChemOrbis Price Wizard, spot naphtha prices in Asia have broken below the $400/ton threshold to post their lowest levels since March 2009 due to ample supply. However, there is some speculation that some supply issues may occur in the Asian naphtha market stemming from delayed shipments from Europe.

Spot naphtha prices in Asia decreased around $25-30/ton week over week to be currently quoted at around $395-400/ton CFR Japan. Spot naphtha prices in Asia have declined around $70/ton from the beginning of the new year.

Meanwhile, Brent January crude futures settled below the $50/barrel threshold on January 12, hitting their lowest level since March 2009 on a weekly average basis while NYMEX crude closed at around $46/barrel, hitting the lowest level seen since March 16, 2009, according to ChemOrbis Price Wizard.

ICE February Brent crude was down 84 cents to settle at $46.59/barrel on Tuesday while NYMEX February crude decreased 18 cents to settle at $45.89/barrel.

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