NOON SNAPSHOT - Europe Markets Summary

17 June 2009 12:00  [Source: ICIS news]

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

CRUDE: July WTI: $70.05/bbl, down $0.42/bbl. August BRENT: $70.06/bbl, down $0.18/bbl

Oil prices were trading slightly in negative territory on the back of a recovery in the US dollar.

NAPHTHA: Open spec spot cargoes were assessed in a $576-586/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, down $17/tonne on the buy side of the range set at the end of trading on Friday. July swaps were pegged at $576-577/tonne CIF NWE.

BENZENE: More European July benzene deals were heard from yesterday at $815-820/tonne CIF ARA (Amsterdam, Rotterdam, Antwerp). On Wednesday, June benzene was talked between $820-845/tonne and July at $800-815/tonne.

STYRENE: European June styrene was heard at $910-940/tonne FOB (free on board), with bids well below yesterday’s low side. July was at $945-960/tonne.

TOLUENE: Offers for a 1,000 tonne cargo for June delivery were heard this morning at $785/tonne, but no bids were forthcoming. The range was unchanged at $760-785/tonne FOB Rotterdam.

MTBE: Bids and offers were heard for MTBE this morning between a range of 1.26-1.31, according to market sources. The average gasoline barge price was $724/tonne FOB AR in the morning, pegging a flat price range for MTBE at $912-948/tonne FOB AR against gasoline barges.

XYLENES: The paraxylene market was quiet this morning. In the absence of any firm bids or offers, the range was stable at $870-890/tonne FOB Rotterdam.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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