30 April 2009 17:07 [Source: ICIS news]
LONDON (ICIS news)--Here is Thursday's end of day European oil and chemical market summary from ICIS pricing.
CRUDE: June WTI: $51.35/bbl, up $0.38/bbl. June BRENT: $50.85/bbl, up $0.07/bbl
Earlier gains were wiped out when the US markets opened on the back of a continued rise in the number of US jobless and news that American car manufacturer Chrysler was expected to file for bankruptcy.
NAPHTHA: Open spec spot cargoes were assessed in a $408-416/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, down $4/tonne the buy side of the range set earlier in the day. May swaps were pegged at $408-409/tonne CIF NWE. There were three offers heard in the afternoon. The first was at $417/tonne CF Rotterdam for 16-20 May, the second at $416/tonne CF Rotterdam for 10-14 May and a final one at $419/tonne CF Rotterdam for 10-14 May.
BENZENE: May benzene was talked at $575-585/tonne CIF ARA (Amsterdam, Rotterdam, Antwerp), while June levels were absent. An initial May benzene contract price was agreed up €58/tonne at €439/tonne, but confirmation was pending.
STYRENE: May styrene was talked at $820-860/tonne FOB (free on board) ?xml:namespace>
TOLUENE: The toluene market remained quiet this afternoon, with no firm bids or offers heard. The value range was stable at $525-545/tonne FOB Rotterdam.
MTBE: There were no MTBE deals heard in the afternoon, and the bid offer range at the end of open market trading was $633-659/tonne FOB AR. The gasoline swap for May was $482/tonne FOB AR, pegging a factor range against the bid offer spread between 1.32-1.35.
XYLENES: Bids for May paraxylene continued to be heard at $1,120/tonne CIF Rotterdam this afternoon, but no corresponding offers were forthcoming. The range remained pegged at $1,000-1,030/tonne FOB Rotterdam.
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