NOON SNAPSHOT - Europe Markets Summary

06 October 2008 12:00  [Source: ICIS news]

LONDON (ICIS news)--Here is Monday’s midday European oil and chemical market summary from ICIS pricing.

 

CRUDE: November WTI: $90.23/bbl, down $3.65/bbl. November BRENT: $86.92/bbl, down $3.33/bbl.

 

Crude oil prices fell to the lowest levels in eight months during the morning session, as the market reported fears that the global financial crisis would seriously affect demand for the product.

 

NAPHTHA: Open spec spot cargoes were assessed in a $702-712/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, down $23/tonne on the buy side of the range set at the end of trading on Friday. October swaps were pegged at $702-704/tonne CIF NWE.

 

BENZENE: Europe benzene offers were initially heard at $1,020-1,030/tonne CIF ARA (Amsterdam Rotterdam Antwerp) for October and November, after which bids and offers dropped for October to $980-1,000/tonne CIF ARA. November bids and offers were assessed at $980-1,010/tonne. No deals were reported.

 

STYRENE: Europe styrene offers were assessed at $1,370/tonne for November and December, no October numbers were heard. The bid/offer range was pegged at $1,380-1,400/tonne FOB (free on board) Rotterdam.

 

TOLUENE: No new numbers were heard on the European toluene market on Monday morning, pegging the bid/offer range at $815-825/tonne FOB Rotterdam.

 

MTBE: No bids or offers were heard for MTBE this morning. Market participants assessed the factor over gasoline as steady from Friday between 1.18-1.20. Gasoline traded between $775-777/tonne FOB AR (Amsterdam Rotterdam), pegging the flat price for MTBE between $915-932/tonne FOB AR.

 

XYLENES: No new numbers were heard on the Europe PX market on Monday morning, pegging the range at $1,050-1,110/tonne FOB Rotterdam.

 

($1 = €0.73)

 

For more pricing intelligence please visit ICIS pricing 

By: Staff Reporter
+44 20 8652 3214

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