Naphtha futures bottomed below the $850-per-tonne mark, a level not seen since February and now roughly 25% below a decade-high of $1,121.72 hit in early March, as bearish demand prospects offset supply concerns related to sanctions against Russia’s oil sector. Putting a floor under prices was signs of a rebound in consumption after China announced the reopening of vital economic hubs as COVID-19 cases dipped across the world’s second-largest economy. Historically, Naphtha reached an all time high of 1180.47 in July of 2008. Naphtha is a flammable liquid that can be used as fuel, metal cleaner, high-octane gas and as petrochemical in production of plastics. Naphtha prices are highly correlated with crude oil as it is generally produced during the refining of crude oil. Each contract represents 1,000 metric tons. The Naphtha prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.

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