30 September 2013 14:08 [Source: ICIS news]
Naphtha prices were assessed at $890-892/tonne CIF (cost, insurance & freight) NWE (northwest Europe) on Monday morning, the lowest it has been in close to two months.
The price fall is driven by a slump in ICE Brent crude oil futures. November ICE Brent crude oil futures stood at $107.90/bbl at 10.30 GMT on Monday, down more than $1.00/bbl from $109.34/bbl at 15.30 GMT on Friday 27 September.
Northwest European naphtha is used as a blendstock in gasoline stocks exported to the US, and as a petrochemical feedstock in both domestic and Asian markets.
($1 = €0.74)
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