Spot naphtha hits 11-month high in Europe, Asia on firm crude
by ChemOrbis Editorial Team - content@chemorbis.com
Spot naphtha prices have been mostly increasing in both Asia and Europe since the upward trend first kicked off in late November. The pace of gains have accelerated this week on the heels of surging energy complex.
ChemOrbis Price Wizard reveals that global oil benchmarks have surged by $2/bbl on a weekly average, reaching their highest levels since February 2020 this week. The successive gains in oil prices were mainly boosted by Saudi Arabia’s voluntary production cut decision.
Mirroring firm crude oil values, spot naphtha prices on CIF NWE and CFR Japan basis have respectively increased by around $25/ton and $15/ton so far this week. They have reached their highest levels since mid-February, as can be seen from the graph created by ChemOrbis Price Wizard.
.jpeg)
ChemOrbis Price Wizard reveals that global oil benchmarks have surged by $2/bbl on a weekly average, reaching their highest levels since February 2020 this week. The successive gains in oil prices were mainly boosted by Saudi Arabia’s voluntary production cut decision.
Mirroring firm crude oil values, spot naphtha prices on CIF NWE and CFR Japan basis have respectively increased by around $25/ton and $15/ton so far this week. They have reached their highest levels since mid-February, as can be seen from the graph created by ChemOrbis Price Wizard.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- PP markets in China, Vietnam hit 3-year lows, readying to test new lows
- African PE, PP markets extend slide into May
- Asian PS, ABS markets at 2½-3-year lows amid Chinese oversupply
- India’s Q1 PVC imports hit record-high; did buyers rush to stock up before expected restrictions?
- LDPE prices move below LLDPE, HDPE on global lethargy
- Slide deepens in Middle Eastern PP, PE markets through May
- Oil prices down for fourth straight week, delicate balance ahead
- European ABS under pressure from aggressive imports, PS holds firm
- Türkiye witnesses plentiful PE offers amid globally weak demand
- India PP, PE markets’ slump extends into third month ahead of monsoon
