The decline in global Naphtha prices was driven by a reduction in demand from both the downstream market and domestically and globally. Despite an increase in crude oil prices, Naphtha prices experienced a downward trajectory. During the week ending on April xx, xxxx, Naphtha markets around the world displayed distinct trends, reflecting the interplay of different factors influencing pricing dynamics.
In the German Naphtha market, there was a notable decline of xx, with prices decreasing from USD xxx/MT to USD xxx/MT with the week ending on xxth April. This decline occurred despite a global uptick in crude oil prices, indicating relative quietness in the market, albeit with an overall upward trend. Low bidding activities were prevalent during the week, potentially attributed to ample inventories for domestic use. Additionally, European Gasoline refining margins slightly decreased during this period. Despite European crude oil closing slightly higher, the European Central...
