Naphtha prices drop below the $400 threshold in Asia
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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