24 July 2013 17:38 [Source: ICIS news]
ICE Brent crude oil futures rose from $100.06/bbl (15:30 GMT) on 24 June to $107.43/bbl on 24 July (15:30 GMT).
|DATE||24 JUNE 2013||24 JULY 2013|
Naphtha CIF (cost, insurance & freight) NWE (northwest Europe) prices
Naphtha fundamentals have changed from last month, as gasoline blending demand has been described as relatively healthy this month.
Nevertheless, the market continues to be oversupplied, and the support extended by improved gasoline demand is waning.
This is currently exerting downward pressure on naphtha values, with prices this week falling from highs of $905-907/tonne CIF NWE seen last week.
Northwest European naphtha is used as a blendstock in gasoline stocks exported to the US, and as a petrochemical feedstock.
($1 = €0.76)
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