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Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E YGRN
Naphtha is an important raw material for the petrochemical industry.
After five weeks of consecutive decline to the lowest level in 13 months, oil prices finally managed a weekly gain.
Brent crude rose to $57.32 per barrel and WTI hit $52.05 per barrel. Oil prices rose as market participants bet that the coronavirus outbreak may have peaked.
Sentiment received a further boost as Chinese factories started to reopen and Beijing eased monetary policy.
Higher Naphtha spot imports in China underscored this improvement in manufacturing activities.
Those imports are needed to compensate for lower domestic Chinese