Northwest Europe naphtha trades rise above $900/tonne mark

12 July 2013 17:32  [Source: ICIS news]

LONDON (ICIS)--The northwest European naphtha cargo price range edged up from earlier in the day to rise above the $900/tonne mark for the first time in months, industry sources said on Friday.

There were three trades in the open market platform on Friday evening that propelled prices up above the threshold.

Naphtha cargoes traded at $903-906/tonne CIF (cost, insurance & freight) NWE (northwest Europe).

August swaps were assessed at $892-893/tonne.

The main application of naphtha is in the petrochemical production of olefins. Naphtha is also used for gasoline blending purposes.

By: Cuckoo James
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