Naphtha prices in Europe rebound with crude

02-Jul-12
The East-West differential for European naphtha has narrowed again, reducing the possibility of sending cargoes to Asia, as per Reuters. However, the situation could improve when Formosa’s naphtha cracker - Asia's biggest- comes back online next week. However, for now, naphtha remains in the doldrums due to the disparity between the volumes on offer and no buying. Petrochemical buyers continue to struggle with the poor economic environment as demand for their products has dropped.
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