EVENING SNAPSHOT - Europe Markets Summary

02 November 2009 17:04  [Source: ICIS news]

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

CRUDE: December WTI: $78.00, up $1.00. December BRENT: $76.35, up $1.15

Due to supportive economic growth data from both China and the US, prices recouped some of the ground lost on 30 October.

NAPHTHA: Open-spec spot cargoes were assessed in a $653-663/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, up $2/tonne CIF NWE the buy side of the range set earlier in the day. November swaps were pegged at $654-655/tonne CIF NWE.

BENZENE: One November benzene inter-trade deal was done at $780/tonne CIF ARA (Amsterdam, Rotterdam, Antwerp). By the close of business, November was pegged at $770-780/tonne, while December was talked lower at $760-780/tonne.

STYRENE: The Europe November styrene barge contract was agreed at €813/tonne FD (free delivered) NWE (northwest Europe), down €16/tonne from October. The spot market remained quiet and was pegged at $970-990/tonne FOB (free on board) Rotterdam for November. December was discussed roughly $20/tonne below November.

TOLUENE: Offers for toluene were pegged at $795/tonne FOB Rotterdam, and the market remained unchanged at $745-795/tonne throughout the day.

MTBE: There were two, 1,000-tonne lots of MTBE traded in the open market this afternoon at $1,000/tonne FOB AR (Amsterdam, Rotterdam), for loading 5-9 November. Gasoline traded at $703.5-710/tonne FOB AR, putting the factor against gasoline for the trades at 1.41-1.42.

XYLENES: No new numbers were heard on the paraxylene market and values were 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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