Naphtha Has Bad News for Global Economy
Gasoline inventories in the U.S. Gulf of Mexico are at the highest for the time of year since at least 1990.
With no signs of a U.S.-China trade deal in sight, and predictions that American crude production will only keep surging, the immediate future of the naphtha market looks precarious.
“I don’t see a U.S.-China trade deal happening anytime soon”, said Steve Sawyer, a senior analyst at Facts Global Energy in London. “Naphtha cracks are set to remain weak till at least the end of the year.”
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