NOON SNAPSHOT - Europe Markets Summary

09 July 2007 12:00  [Source: ICIS news]

LONDON (ICIS news)--Here is Monday's midday European oil and chemical market summary from ICIS pricing.

CRUDE: August WTI: $72.38/bbl, down $0.43/bbl. August BRENT: $75.40/bbl, down $0.22/bbl

 

Prices eased back from the 11-month highs set on Friday when August Brent briefly broke above $76.00/bbl. News that Nigerian militants had released the three-year-old British girl kidnapped last week helped ease concerns about further supply disruptions from the country.

 

NAPHTHA: Open-spec spot cargoes were assessed in a $690-700/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, down $9.00/tonne on the buy side of Friday’s closing range. July swaps were pegged at $690-691/tonne CIF NWE.

 

BENZENE: July bids and offers were at $1,115-1,130/tonne, reflecting a widening of $5/tonne from the Friday’s closing range. August indications were at $1,105-1,120/tonne, down $5/tonne on the buy side. 

 

STYRENE: July indications were at $1,370-1,390/tonne, down $10/tonne from Friday’s close. August indications were stable at $1,390-1,405/tonne in a quiet market.

 

MTBE: Bids and offers were reported in a firm $925-945/tonne range. Gasoline was trading in a $768-776/tonne range, taking the factor up to a very high 1.20-1.21.

For more pricing intelligence please visit www.icispricing.com

 

 

By: Staff Reporter
+44 20 8652 3214

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