NOON SNAPSHOT - Europe Markets Summary

27 October 2009 12:00  [Source: ICIS news]

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

CRUDE: December WTI: $79.13/bbl, up $0.45/bbl. December BRENT: $77.67/bbl, up $0.41/bbl

Crude prices gained some ground during the morning, helped by the weaker dollar. The American Petroleum Institute’s weekly stock report is due later on Tuesday, with forecasts for a 1.4m bbl build in crude stocks and a 300,000 bbl draw in gasoline stocks.

NAPHTHA: Open spec spot cargoes were assessed in a $671-681/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, up $5/tonne CIF NWE on the buy side of the range set at the end of trading on Monday. November swaps were pegged at $671-672/tonne CIF NWE.

BENZENE: Players talked European November benzene at $820-845/tonne CIF ARA (Amsterdam, Rotterdam, Antwerp), although delivery in the first half of November was higher at $820-860/tonne. December was assessed at $790-825/tonne.

STYRENE: European November styrene was talked at $995-1,015/tonne FOB (free on board) Rotterdam. No October or December levels were yet heard.

TOLUENE: Offers for November were heard this morning at $790/tonne FOB Rotterdam, but these were not met with any bids. The range remained stable at $745-790/tonne FOB Rotterdam.

MTBE: Bids and offers were heard at a factor against gasoline of 1.31-1.34 on Tuesday morning, down from 1.33-1.34 on Monday afternoon. Gasoline traded at $709-711/tonne FOB AR, putting the MTBE flat price at $929-953/tonne FOB AR.

XYLENES: The range for November paraxylene was pegged at $860-890/tonne FOB Rotterdam, marginally up on the buy side due to export interest to Asia.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

< previous article(VIDEO - ICIS news Europe Lunchtime Bulletin 4 November 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly