08 January 2009 17:06 [Source: ICIS news]
LONDON (ICIS news)--Here is Thursday's end of day European oil and chemical market summary from ICIS pricing.
CRUDE: February WTI: $40.94/bbl, down $1.69/bbl. February BRENT: $44.33/bbl, down $1.53/bbl
Having gained more than $1/bbl on supply worries earlier in the day, prices retreated to trade more than $1/bbl in negative territory as the global economic crisis once again took centre stage. The markets were reacting to some worrisome statistics, particularly from the ?xml:namespace>
NAPHTHA: Open spec spot cargoes were assessed in a $294-304/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, down $20/tonne on the buy side of the range set earlier in the day. January swaps were pegged at $294-296/tonne CIF NWE.
BENZENE: One January benzene deal was reported at $270/tonne CIF ARA (
STYRENE: Two European styrene deals for February were reported at $680/tonne FOB (free on board)
TOLUENE: Firm bids and offers were heard for January loading toluene at $400-420/tonne FOB
MTBE: In a quiet afternoon, only one MTBE trade was heard, at $435/tonne FOB AR. Gasoline traded in the afternoon between $354-368/tonne
XYLENES: The paraxylene market was quiet this afternoon. In the absence of any firm bids or offers for January loading material, values remained notionally stable at $600-620/tonne FOB
($1 = €0.74)
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