In line with oil prices that dropped below US$70 and lackluster buying in the region, open spec naphtha in Asia tanked below US$500/MT CFR Japan basis. As per a report by Platts, naphtha cargoes for delivery in H1-December, H2-December and H1 January were down to US$465.25, US$484.25 and US$500.25, respectively on a per ton basis. Singapore naphtha swaps for November and December plunged to US$50.50/b and US$53.90/b.
17-Oct-08 
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