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...from the previous week's $293, as the US driving season comes to an end. Availability of European butadiene pushes offers down to as low as $690
Naphtha: The MoPJ declined to US$272-273.25/tonne cfr Japan from the previous week's US$293/tonne cfr Japan on weaker crude oil. The decline in crude oil was the result of the end of the US driving season.
Later in the week, though, crude recovered some of its substantial losses. This had not impacted naphtha markets as ACN went to press. October IPE Brent futures rose by 18 cent/bbl to US$27.70/bbl. However, the US$27.70/bbl compared with Brent futures of US$29.45/bbl at the start of the week.
Most Asian naphtha buyers had made minimum purchases for October but were insisting that they...