Spot naphtha prices surpass $900 in Asia, Europe
by ChemOrbis Editorial Team - content@chemorbis.com
Spot naphtha prices increased in both Asia and Europe on the back of increasing crude oil prices that tracked the rising tension between Russia and Ukraine. As of the week ending on February 25, spot naphtha prices in Europe and Asia surpassed $900 threshold and reached their highest since 2014.
According to the weekly data from ChemOrbis Price Wizard, spot naphtha prices on CIF NWE and CFR Japan basis have been steadily increasing since the start of the year. European and Asian naphtha prices currently stand at $920-930/ton, up by around $50/ton from last week.
The conflict between Russia and Ukraine has had severe impact on global oil benchmarks. Brent oil hit above $100 threshold for the first time since 2014, while WTI crude also sharply increased and hovering around $95/bbl.
According to the weekly data from ChemOrbis Price Wizard, spot naphtha prices on CIF NWE and CFR Japan basis have been steadily increasing since the start of the year. European and Asian naphtha prices currently stand at $920-930/ton, up by around $50/ton from last week.
The conflict between Russia and Ukraine has had severe impact on global oil benchmarks. Brent oil hit above $100 threshold for the first time since 2014, while WTI crude also sharply increased and hovering around $95/bbl.
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