NewsFlashEurope MTBE offers at year high
12 July 2007 16:45 [Source: ICIS news]
LONDON (ICIS news)--Methyl tertiary butyl ether (MTBE) offers in Europe reached year highs on Thursday on strong gasoline prices, traders and refiners said.
Offers were reported in the afternoon at up to $1,003/tonne FOB (free on board) AR (Amsterdam/Rotterdam), said market insiders.
Throughout the day, 10 ppm (parts per million) premium unleaded gasoline traded at $772/tonne FOB (free on board) barges ARA (Amsterdam Rotterdam Antwerp) between refiners and blenders, a broker said.
This took the factor to a very high 1.29 against the offer.
Firm demand for gasoline ahead of the summer driving season has kept numbers for both gasoline and MTBE high, sources said.
The last time MTBE traded at above $1,000/tonne
By: Nicolette Allen
+44 20 8652 3214
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