Prices for naphtha increased by four, 20 February, according to forecasts that it will drink in the US after fuel reserves shortened more, and the weaker US dollar fell.
As Ukrinform reports, Reuters reports.
Futures for Brent naphtha rose 43 cents, or 0.6%, to $71.21 per barrel, which was the highest since 3 February. American West Texas Intermediate (WTI) naphtha rose in price by 38 cents, or 0.6%, to $67.54.
Data from the US government last year showed a higher, lower decline in distillate inventories, including diesel fuel and fuel oil, which decreased by 2.8 million barrels, exceeding the decline by 300 thousand. Bareliv.
“The forecast for naphtha prices in the United States is not favorable, regardless of the decrease in the number of air passengers,” JP Morgan analysts said in a note, adding that the decrease in tourist activity in the United States does not indicate a shutdown Weakness of prospects.
According to analysts, the world's flow to naphtha reached an average of 101.8 million barrels per day (b/d), while the river's increase was 1.5 million b/d.
Crude oil reserves in the United States increased by 1.7 million barrels, but increased by 512 thousand. barrels from the former Reuters.
The weaker dollar also absorbed the increase in oil, leaving the dollar exchange rate declining since the end of the crisis.
“Over the years, dollar weakness seemed to provide a strong boost to dollar naphtha prices,” said Phillip Nova senior market analyst Priyanka Sachdeva.
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Photo: Al Seib/Los Angeles Times