EVENING SNAPSHOT - Europe Markets Summary

08 December 2008 17:00  [Source: ICIS news]

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

CRUDE: January WTI: $43.67/bbl, up $2.86/bbl. January BRENT: $42.54/bbl, up $2.80/bbl

The rebound in the equity markets and a fall in the US dollar continued to push prices up, with January Brent up $3/bbl at one point.

NAPHTHA: Open spec spot cargoes were assessed in a $267-277/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, up $20/tonne on the buy-side of the range set earlier in the day. January swaps were pegged at $268-270/tonne CIF NWE.

BENZENE: Bid/offer indications for December loading benzene were heard at $200-220/tonne CIF ARA (Amsterdam, Rotterdam, Antwerp), up $5-10/tonne from earlier in the day. January was valued at $235-255/tonne CIF ARA. No deals were heard.

STYRENE: Bids were heard for December loading styrene at $520/tonne FOB (free on board) Rotterdam and January loading at $540/tonne FOB Rotterdam. With no offers noted, sell values were pegged at $540/tonne and $560/tonne FOB Rotterdam respectively.

TOLUENE: Firm bids and offers for December loading toluene in Europe were heard within a $380-420/tonne FOB Rotterdam range, up $20/tonne from Friday's close.

MTBE: There was one trade heard for MTBE in the afternoon for 1,000 tonnes loading 15-19 December FOB AR (Amsterdam, Rotterdam) at $493/tonne. Gasoline traded in the afternoon at $336/tonne AR, which pegged a factor for the deal at 1.47. 

XYLENES: The PX market remained quiet and levels were unchanged at $500-540/tonne FOB Rotterdam.

For more pricing intelligence please visit ICIS pricing
By: Staff Reporter
+44 20 8652 3214

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