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 ?xml:namespace>
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections