Northwest European (NWE) naphtha prices have fallen below US$500/ton for the first time in five-and-a-half years amid plunging crude values, ICIS data showed. Naphtha cargo values began trading in the $500s/ton CIF (cost, insurance, freight) NWE (northwest Europe) as recently as 27 November. Prices were as high as US$700/ton in mid-October. The rapid erosion in naphtha values is attributed to upstream Brent crude oil futures which has declined close to 45% since its yearly peak of US$115/bbl in June. Naphtha has dropped by 50% from a yearly high of US$976/ton in June to US$490/ton, values last seen in May 2009.
15-Dec-14 
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