EVENING SNAPSHOT - Europe Markets Summary

05 November 2009 17:17  [Source: ICIS news]

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

CRUDE: December WTI: $80.18/bbl, down $0.22/bbl. December BRENT: $78.69/bbl, down $0.20/bbl

Oil prices recovered in the afternoon to trade for a brief period in positive territory on the back of gains in the stock markets after positive economic news from both the US and Europe.

NAPHTHA: Open spec spot cargoes were assessed in a $663-673/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, up $4/tonne CIF NWE on the buy side of the range set earlier in the day. November swaps were pegged at $664-665/tonne CIF NWE.

BENZENE: One benzene roll was done whereby delivery in the first half of November was $5/tonne more expensive than delivery in any part of November. By the close of business, November was talked at $815-825/tonne CIF ARA (Amsterdam, Rotterdam, Antwerp) and December at $810-825/tonne.

STYRENE: Another November styrene deal was reported at $1,020/tonne FOB (free on board) Rotterdam. By the close of business, November was talked at $1,010-1,030/tonne and December at $1,000-1,025/tonne.

TOLUENE: A range for November was heard this afternoon at $760-795/tonne FOB Rotterdam, up $2/tonne on the sell side.

MTBE: There were no trades in the open market this afternoon. There was a bid at $994/tonne FOB AR for loading 10-14 November and another at $989/tonne FOB AR for loading 13-17 November. Gasoline traded at $711-715/tonne FOB AR, putting the factor against gasoline for the bids at 1.38-1.40.

XYLENES: A November trade was talked this afternoon at $870/tonne FOB Rotterdam. The range was pegged at $860-880/tonne FOB Rotterdam, down from previous buy/sell indications due to a lack of market activity.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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