07 April 2011 10:59 [Source: ICIS news]
(Recasts with detail)
SINGAPORE (ICIS)--Asian naphtha prices closed higher on Thursday at $1,034-1,035/tonne (€724-725/tonne) CFR (cost & freight) Japan, the highest since 22 August 2008, according to ICIS data.
In open market trading, two physical deals were done. Trading company Vitol sold a second-half May naphtha cargo to trader Trafigura at $1,035/tonne CFR Japan while Noble bought a first-half June stem from Shell at $1,030/tonne CFR Japan, traders said.
Prices were underpinned by robust crude futures, with Brent crude hovering at under $122/bbl, ICIS data showed.
Naphtha prices were assessed as $1,036-1,038/tonne CFR Japan as of 22 August 2008, it stated.($1 = €0.70)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|