Naphtha prices move above $400/ton threshold in Europe
Spot naphtha prices in Europe rose about $20/ton on the week to be currently reported at around $405/ton CIF NWE, hitting the highest levels seen since early December 2015, according to weekly average prices on ChemOrbis Price Wizard. Meanwhile, spot naphtha prices in Asia increased $5-10/ton week over week to be currently reported at around $410-415/ton CFR Japan. According to weekly average prices, current naphtha prices in Asia represent the highest levels seen since early January 2016.
Recently, crude oil prices have moved above the $45/barrel threshold. On Thursday, NYMEX June crude oil futures were up 70 cents to settle at $46.03/barrel while ICE June Brent crude rose 96 cents to settle at $48.14/barrel.
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