Naphtha Prices Drop for 2025 Contracts Due to Weak Demand and Oversupply
Naphtha prices for 2025 contracts have dropped slightly due to weak demand in the petrochemical industry and a supply glut. Several Asian companies, including South Korea’s YNCC, Singapore’s PCS, and Taiwan’s Formosa Petrochemical, have signed contracts for naphtha at lower premiums compared to 2024 prices. This marks a shift in the market as companies are […]
China’s Independent Refiners Shift Focus Amid Iranian Supply Crunch
China’s independent refiners, known as “teapots,” are facing growing challenges in securing Iranian crude oil, prompting a significant shift in their sourcing strategies. Iranian oil, traditionally a cost-effective option for these refiners, has become increasingly scarce and expensive. This is largely due to the broadening of U.S. sanctions in October, targeting tankers involved in the […]
