NOON SNAPSHOT - Europe Markets Summary

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

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

CRUDE: December WTI: $79.87/bbl, up $0.25/bbl. December BRENT: $78.32/bbl, up $0.33/bbl

Oil prices traded marginally in positive territory as the US dollar eased ahead of the release of US non-farm payroll data. The markets were expecting the data to show a slowdown in the pace of job losses in the US.

NAPHTHA: Open-spec spot cargoes were assessed in a $660-670/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, down $3/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 $660-661/tonne CIF NWE.

BENZENE: One Europe November benzene deal was reported from the previous evening at $825/tonne CIF ARA (Amsterdam, Rotterdam, Antwerp). On Friday, November and December were pegged flat at $820-840/tonne.

STYRENE: Industry bought 1,000 tonnes of Europe November styrene from trade at $1,028/tonne FOB (free on board) Rotterdam on 5 November. On Friday, November was pegged at $1,015-1,035/tonne.

TOLUENE: A range for November continued to be heard at $760-795/tonne FOB Rotterdam this morning.

MTBE: The factor against gasoline was quoted at around 1.40 for prompt shipment. Gasoline traded at $705-707/tonne FOB AR (Amsterdam, Rotterdam), putting the MTBE flat price at $987-990/tonne FOB AR.

XYLENES: There was no firm buy/sell activity heard for paraxylene this morning. The range was unchanged at $860-880/tonne FOB Rotterdam.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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