Naphtha futures have been trading above $350/tonne since July, recovering from a 4-year low of $130.44/tonne reached on April 21st, but still below $470 reached before the coronavirus pandemic. While steady demand from petrochemical crackers continues to support prices, lower gasoline cost is putting the brakes. For the year, naphtha is still down around 32% as rising coronavirus infections and more restrictions and lockdowns are hurting fuel demand. Naphtha mimics crude performance as it is produced mainly from the distillation of crude oil.
Historically, Naphtha reached an all time high of 1180.47 in July of 2008. Naphtha - data, forecasts, historical chart - was last updated on November of 2020.
Naphtha is expected to trade at 352.70 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 302.87 in 12 months time.