What it is
A light liquid distilled from crude oil. Petrochemical plants crack it into the building blocks of plastics, and refineries blend it into petrol.
How it is usually quoted
US dollars per tonne.
This is the customary unit of the reference market. Other markets for the same commodity may use another unit or currency, and an exchange can change a contract’s terms: its own rulebook is the authority.
Where the reference contract trades
Priced from published assessments in north-west Europe and Asia, and traded mostly as over-the-counter swaps.
Named for orientation only. Naming an exchange or a market here does not mean that GIO4X gives access to it.
What commonly moves it
- The price of crude oil
- Demand for plastics and packaging
- The price of the gases that can replace it in a cracker, such as ethane and propane
- How much is drawn off to blend into petrol
These are the things people who follow this market usually watch. They explain how the market works; they do not say what the price will do next.
Where it comes from
Made at refineries everywhere. The Middle East is a large exporter and north-east Asia the largest importing region.
The order of producers changes from year to year, so no quantities or shares are given here.
At GIO4X
Naphtha is not offered as a GIO4X instrument. This page is general education about a market that exists elsewhere, and nothing on it means that GIO4X quotes, trades or gives access to it.
The commodities GIO4X does list are Brent crude, gold, natural gas, palladium, platinum, silver and WTI crude.
Words worth knowing
A reference page. Educational information, not investment advice or a recommendation to trade. It gives no price and no forecast.