Naphtha futures fell to around $600 per tonne, marking their lowest level in over a year, in line with declining crude oil benchmarks. On Friday, US non-farm payrolls concluded a week marked by disappointing labor market data, reinforcing fears of a slowdown in the world’s largest economy. Additionally, weak data from Europe intensified concerns about energy demand, compounded by ongoing worries about soft Chinese consumption. Furthermore, Bank of America revised its 2025 oil forecast, lowering Brent prices to $75 from $80 and the US benchmark to $71 from $75. Saudi Aramco's decision to lower its October official selling prices indicated expectations of weak demand in Asia. Meanwhile, market sentiment was supported by OPEC+'s decision to postpone its 180,000 bpd production increase until December, along with the potential energy supply risks from a hurricane approaching the US Gulf Coast, which accounts for 60% of the country’s refining activity.
Naphtha decreased 29.70 USD/T or 4.68% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Naphtha reached an all time high of 1180.47 in July of 2008. Naphtha - data, forecasts, historical chart - was last updated on September 12 of 2024.
Naphtha decreased 29.70 USD/T or 4.68% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Naphtha is expected to trade at 661.04 USD/T by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 671.04 in 12 months time.