Naphtha Price Analysis

date: 18 February 2021

By increasing in the crude oil prices, the prices of chemical and petrochemical products, under the influence of rising prices have been increased. Also
Naphtha has moved closer to the 600 $ resistance level after crossing the 520$ price range. Naphtha seems to have difficulties to reach 600$.

Regarding to stability of oil prices and no increase in production, Prices can be balanced. Naphtha can drop to the 530$ range and then enter the 580 $ range.