In line with runaway crude prices, naphtha prices have peaked to all time highs past US$1070/MT.US July crude futures have breached US$135 a barrel in Asian trade.
Runaway crude prices can be attribbuted to high inflation rates being witnessed globally, start of summer driving season in USA exerting pressures on gasoline demand coupled with an unexpected drop in US inventory levels this week.
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Saturday, May 24, 2008
Naphtha breaches all time highs
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