Europe naphtha trades below $900/tonne to hit three-month low

04 February 2014 17:44  [Source: ICIS news]

LONDON (ICIS)--Europe naphtha prices fell below $900/tonne to hit a three-month low on Tuesday, sources said.

Trading firm Gunvor sold a naphtha cargo to Glencore at $897/tonne CIF (cost, insurance, freight) NWE (northwest Europe) late on Tuesday evening.

Demand for naphtha is slowing in Europe, and export to the key Asian market are stalling on the back of high freight rates, putting downward pressure on prices.

By: Cuckoo James
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