Europe gasoline, toluene fall on crude collapse
01 May 2008 17:57 [Source: ICIS news]
LONDON (ICIS news)--Benchmark 10ppm (parts per million) premium unleaded gasoline barges and blending component toluene lost further ground on Thursday on continued crude oil losses.
Having traded at a record high of $1,016/tonne FOB (free on board) AR (Amsterdam Rotterdam) on Monday, values slipped gradually throughout the week, to finish $90/tonne lower at $926/tonne
Brokers linked the price weakening directly to crude volatility.
In a thinly attended market, meanwhile, toluene, used as a blending component of summer blend gasoline, also lost considerable ground, with bids down to $975/tonne FOB Rotterdam against a firm offer at $1,000/tonne FOB Rotterdam for May loading material.
Bids had been seen at $1,040/tonne FOB Rotterdam earlier in the week.
NYMEX light sweet crude futures fell by more than $2/bbl on Thursday to take the front-month June contract to below $111/bbl on the back of a stronger dollar and a larger than expected build in US natural gas stocks.
($1 = €0.64)
For more on toluene visit ICIS chemical intelligence
By: Peter Salisbury
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