18 July 2013 13:15 [Source: ICIS news]
LONDON (ICIS)--European naphtha prices for the first half of July are 8% – or $65/tonne – higher than the same month in 2012, and 4% – or $33/tonne higher – than prices in June 2013, ICIS data shows.
On average, the first-half July naphtha price of $877/tonne (€667/tonne) CIF (cost, insurance & freight) NWE (northwest Europe) compares with $812/tonne for the same period in 2012, and $844/tonne in June 2013.
However, naphtha prices are now falling from a recent high of $907/tonne CIF NWE due to a dip in gasoline blending demand, despite stable to firm upstream ICE Brent crude oil futures.
Nevertheless, naphtha trades at $891-893/tonne CIF NWE on 17 July were at a three-and-a-half month high, and close to levels last seen in late March.
Northwest European naphtha is used as a blendstock in gasoline stocks exported to the US, and as a petrochemical feedstock.
Average naphtha CIF NWE prices
1H JULY 2013
1H JULY 2012
1H JUNE 2013
($1 = €0.76)
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