NOON SNAPSHOT - Europe Markets Summary

02 November 2009 12:00  [Source: ICIS news]

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

CRUDE: December WTI: $78.01/bbl, up $1.01/bbl. December BRENT: $76.42/bbl, up $1.22/bbl

Crude prices gained over a dollar on Monday morning, benefiting from positive Chinese manufacturing data.

NAPHTHA: Open spec spot cargoes were assessed in a $651-661/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, up $2/tonne CIF NWE on the buy side of the range set at the end of trading on Friday. November swaps were pegged at $651-652/tonne CIF NWE.

BENZENE: Europe November benzene prices were pegged at $795-815/tonne CIF ARA (Amsterdam, Rotterdam, Antwerp). December values were not yet heard.

STYRENE: The European styrene market was assessed at $970-990/tonne FOB (free on board) Rotterdam, while CIF levels were mentioned at $960-975/tonne. December numbers were not yet heard.

TOLUENE: Players assessed the Europe toluene market at $745-795/tonne FOB Rotterdam, which was unchanged from Friday’s close pending further confirmation.

MTBE: MTBE was quoted at a factor against gasoline of 1.35 on Monday morning, down from 1.36-1.38 on Friday afternoon. Gasoline traded at $707-710/tonne FOB AR, putting the MTBE flat price at $954-959/tonne FOB AR.

XYLENES: The paraxylene market was subdued and notionally stable at $880-900/tonne FOB Rotterdam.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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