EVENING SNAPSHOT - Europe Markets Summary

30 June 2009 17:30  [Source: ICIS news]

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

CRUDE: August WTI: $69.44/bbl, down $2.05/bbl. August BRENT: $68.95/bbl, down $2.04/bbl.

Oil prices fell during the session as a retreat in the stock markets reignited worries on future demand for crude. A stronger US dollar also placed downward pressure on prices.

NAPHTHA: Open spec spot cargoes were assessed in a $571-581/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, down by $21/tonne on the buy side of the range set earlier in the day. July swaps were pegged at $571-572/tonne CIF NWE.

BENZENE: Several trades for July cargo were rumoured at $920/tonne, $925/tonne, $930/tonne and $940/tonne. The range for July was adjusted to $920-940/tonne CIF ARA (Amsterdam, Rotterdam, Antwerp) to reflect this. One trade for August was rumoured at $900/tonne.

STYRENE: Two deals for July were rumoured this afternoon at $1,025/tonne and $1,030/tonne. The range was assessed slightly down from earlier levels at $1,020-1,030/tonne FOB (free on board) Rotterdam.

TOLUENE: Bids and offers for July toluene were heard at $740-770/tonne FOB Rotterdam, up from previous levels on the back of higher upstream costs.

MTBE: In the afternoon a trade was heard at $827/tonne FOB AR (Amsterdam, Rotterdam). Gasoline traded at $645.5-648/tonne FOB AR in the afternoon, putting the factor for MTBE against gasoline at $1.28-1.27/tonne FOB AR.

XYLENES: There were no firm bids or offers heard for paraxylene this afternoon, and the range was stable at $840-870/tonne FOB Rotterdam.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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