23 September 2009 12:00 [Source: ICIS news]
LONDON (ICIS news)--Here is Wednesday’s midday European oil and chemical market summary from ICIS pricing.
CRUDE: November WTI: $71.14/bbl, down $0.62/bbl. November BRENT: $69.80/bbl, down $0.73/bbl
Oil prices were below the previous day’s settlement due to a surprise build of 276,000 bbl in the weekly American Petroleum Institute’s report for crude stocks, compared with a forecast draw of 1.5m bbl.
NAPHTHA: Open-spec spot cargoes were assessed in a $602-612/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, down by $1/tonne CIF NWE on the buy side of the range set at the previous day’s end of trading. October swaps were pegged at $602-604/tonne CIF NWE.
BENZENE: September European benzene was offered at $790/tonne CIF ARA (?xml:namespace>
STYRENE: Players in the European styrene market assessed October at $1,050-1,070/tonne FOB (free on board)
TOLUENE: A range for September was heard this morning at $750-785/tonne FOB
MTBE: Bids and offers were heard at a factor against gasoline of 1.16-1.17, down from the previous evening’s factor of 1.17-1.20. Gasoline traded at $627-640/tonne
XYLENES: There were no firm bids or offers heard for paraxylene this morning. The range was unchanged at $800-860/tonne FOB
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