21 January 2014 10:30 [Source: ICIS news]
LONDON (ICIS)--European contract cracker margins based on LPG (liquefied petroleum gas) have regained the advantage versus naphtha on the back of a 9.5% fall in euro-based costs, according to margin analysis on Tuesday.
Naphtha prices fell by $17/tonne but this was limited by a 0.8% stronger dollar - overall, euro-denominated naphtha costs were down by 0.9% which led to just a €21/tonne increase naphtha contract cracker margins. Co-product credits were unchanged.
Spot naphtha margins were up on lower naphtha as well as higher co-product credits which rose 1.3% predominantly on higher spot benzene values.
Spot benzene prices reached a record high last week on the back of supply issues.
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