With the week ending on xxth Feb, the global Naphtha market saw a decline as major market participants maintained ample inventories. Additionally, Naphtha prices remained steady in the Chinese market throughout the holiday season, with preparations for the Lunar New Year suggesting a willingness to further decrease production. In the US, Naphtha prices followed a downward trend due to sluggish demand domestically and internationally, along with the accumulation of inventories among the storage units.
Naphtha prices in the US market had decreased by almost xx, from USD xxx/MT to USD xxx/MT in week ending on x Feb xxxx. According to the EIA report on February xth, U.S. commercial crude oil inventories had increased by xx.x million barrels from the previous week ending on x Feb xxxx, resulting in a decline in crude oil crack prices, leading to a further decrease in production costs and Naphtha prices. The...
