Europe naphtha, LPG margins fall on feedstock gains
Nel Weddle
25-Nov-2014
LONDON (ICIS)–European cracker margins have fallen on the back of upstream naphtha and liquefied petroleum gas (LPG) gains, according to ICIS margin analysis on Tuesday.
In the week ending 21 November, spot and contract cracker
margins based on naphtha feedstock sank about 16% and 11%
respectively on a 4.4% rise in euro-denominated feedstock
costs. Naphtha prices had climbed by $24/tonne and the dollar
strengthened by 0.5%.
Contract naphtha cracker margins are at their lowest since early October.
Contract cracker margins based on LPG fell by about 12% week
on week, narrowing the advantage to naphtha to just
€17/tonne. LPG costs rose 7.6% as butane prices strengthened
by $50/tonne and propane prices by $25/tonne.
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