EVENING SNAPSHOT - Europe Markets Summary
19 May 2008 17:41 [Source: ICIS news]
LONDON (ICIS news)--Here is Monday's end-of-day European oil and chemical market summary from ICIS pricing.
CRUDE: June WTI: $126.26/bbl, down $0.03/bbl. July BRENT: $124.56/bbl, down $0.44/bbl
Prices traded within a wide range during the session and dropped substantially in the late afternoon on the back of a rebound of the US dollar against major currencies.
NAPHTHA: Open spec spot cargoes were assessed in a range of $996-998/tonne CIF (cost, insurance and freight) NWE (northwest
MTBE: During open market trading, methyl tertiary butyl ether (MTBE) business was at $1,159/tonne FOB (free on board) AR (Amsterdam, Rotterdam). Gasoline was seen as quiet but was last reported at $1,058-1,063/tonne FOB AR. The blending factor was assessed at 1.08-1.09.
BENZENE: Two benzene deals were rumoured at $1,267/tonne CIF ARA (Amsterdam, Rotterdam, Antwerp) and $1,269/tonne CIF ARA for May and June respectively. Bid/offer indications were heard within a $1,265-1,270/tonne CIF ARA range.
TOLUENE: CIF bids and offers for European toluene were talked within a $1,180-1,100/tonne CIF Rotterdam range, little changed from the previous week's close. FOB
XYLENES: A lack of buying interest persisted throughout the day, with no new bids or offers heard. Numbers remained notionally assessed at $1,290-1,300/tonne FOB
For more pricing intelligence please visit ICIS pricing
By: Staff Reporter
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