EVENING SNAPSHOT - Europe Markets Summary

03 October 2008 17:08  [Source: ICIS news]

LONDON (ICIS news)--Here is Friday's end of day European oil and chemical market summary from ICIS pricing.

 

CRUDE: November WTI: $95.28/bbl, up $1.31/bbl. November BRENT: $91.65/bbl, up $1.09/bbl

 

Oil futures traded more than $1/bbl up from Thursday as positive economic data from the US helped restore some confidence in the markets.

 

NAPHTHA: Open spec spot cargoes were assessed in a $725-735/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, up $2/tonne on the buy side of the range set earlier in the day. October swaps were pegged at $726-728/tonne CIF NWE.

 

BENZENE: Bid/offer indications for European benzene were given at a stable $1,065-1,075/tonne CIF ARA (Amsterdam, Rotterdam, Antwerp) with November at $1,055-1,065/tonne CIF ARA. A deal was confirmed from earlier in the day at $1,055-1,065/tonne CIF ARA.

 

STYRENE: Offers for October loading styrene in Europe were heard $10/tonne lower at $1,400/tonne FOB Rotterdam with bids pegged at a notional $1,380/tonne FOB Rotterdam. November was offered at $1,380/tonne FOB Rotterdam with absent bids again pegged, at $1,360/tonne FOB Rotterdam.

 

TOLUENE: An October toluene deal was rumoured at $825/tonne FOB Rotterdam with the participating parties as yet unknown. A firm offer was heard at $825/tonne FOB Rotterdam with bids pegged at $825/tonne FOB Rotterdam. Gasoline had traded earlier at $809/tonne FOB AR.

 

MTBE: No bids or offers were heard for MTBE this afternoon. Market participants agreed on a notional bid offer range between $955-975/tonne FOB (free on board) AR (Amsterdam Rotterdam) towards the end of business. Gasoline traded at $809/tonne FOB AR in the afternoon. MTBE value was assessed at a factor of 1.19.

 

XYLENES: The PX market moved in the afternoon, with offers heard between $1,050- 1,075/tonne CIF ARA for October and $1,110/tonne FOB Rotterdam, also for October. Bids were notionally assessed lower at $1,050/tonne FOB Rotterdam. The new bid/offer range was pegged at $1,050-1,110/tonne FOB Rotterdam.

 

($1 = €0.72)

 

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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