NOON SNAPSHOT - Europe Markets Summary

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

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

CRUDE: December WTI: $79.87/bbl, down $0.53/bbl. December BRENT: $78.36/bbl, down $0.53/bbl

Having settled the previous day in positive territory after the US weekly stock data showed a surprise drop in crude oil stocks, the markets were trading in negative territory as the US dollar gained ground.

NAPHTHA: Open-spec spot cargoes were assessed in a $659-669/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, down $7/tonne CIF NWE on the buy side of the range set at the end of the previous day’s trading. November swaps were pegged at $659-660/tonne CIF NWE.

BENZENE: One Europe November benzene deal was reported at $816/tonne CIF ARA (Amsterdam, Rotterdam, Antwerp). November was consequently pegged at $810-820/tonne.

STYRENE: One November inter-trade styrene deal was done at $1,025/tonne FOB (free on board) Rotterdam and the market was pegged at $1,025-1,040/tonne. December was talked at $1,000-1,025/tonne.

TOLUENE: The market remained quiet, with no firm bids or offers heard. The range for November was unchanged at $760-793/tonne FOB Rotterdam.

MTBE: The MTBE factor against gasoline was notionally pegged at 1.35 on Thursday morning, unchanged from the level from the previous afternoon. Gasoline traded at $707-710/tonne FOB AR (Amsterdam, Rotterdam), putting the MTBE flat price at $954-959/tonne FOB AR.

XYLENES: The paraxylene market remained quiet, with no firm buying/selling interest seen. The range was unchanged 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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