EVENING SNAPSHOT - Europe Markets Summary

27 November 2008 17:00  [Source: ICIS news]

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

CRUDE: January WTI: $54.12/bbl, down $0.32/bbl. January BRENT: $53.45/bbl, down $0.47/bbl

With the US market closed for the Thanksgiving holiday and many European traders away from their desks, the market was very quiet and trading was slightly down compared with Wednesday, having regained ground lost early in the day.

NAPHTHA: Open spec spot cargoes were assessed in a $327-340/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, up $11/tonne on the buy-side of the range set earlier in the day. December swaps were pegged at $327-327/tonne CIF NWE.

BENZENE: Activity on benzene picked up on Thursday afternoon when a trading arm of a major producer reportedly bought at $235/tonne, $240/tonne and $245/tonne, from industry and trade, on a CIF ARA (Amsterdam, Rotterdam, Antwerp) basis. Price levels were assessed at $235-245/tonne CIF ARA, up $20/tonne from this morning.

STYRENE: No styrene trades were heard in the afternoon, though players notionally assessed levels higher at $640-660/tonne FOB (free on board) Rotterdam, up $10-30/tonne from this morning.

TOLUENE: The toluene market was quiet and levels were notionally stable at $445-470/tonne FOB Rotterdam.

MTBE: In the afternoon, MTBE traded at $542/tonne FOB AR (Amsterdam, Rotterdam). Gasoline traded between $417-418/tonne FOB AR, pegging the premium around 1.30.

XYLENES: There was no buying interest on PX and price levels were notionally unchanged at $540-600/tonne FOB Rotterdam.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

< previous article(VIDEO - ICIS news Europe Lunchtime Bulletin 27 October 2009)

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.

Printer Friendly