EVENING SNAPSHOT - Europe Markets Summary

24 November 2009 17:09  [Source: ICIS news]

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

CRUDE: January WTI: $75.80/bbl, down $1.76/bbl. January BRENT: $76.20/bbl, down $1.26/bbl

With some traders already starting to square their books ahead of the US Thanksgiving holiday and the weekly US stock figures predicted to show builds across the board, some disappointing US GDP data was all that was needed to push prices sharply lower.

NAPHTHA: Open spec spot cargoes were assessed in a $672-682/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, down $13/tonne CIF NWE on the buy side of the range set earlier in the day. December swaps were pegged at $668-669/tonne CIF NWE. One trader bid at $672/tonne CIF NWE for 6-10 December.

BENZENE: One December benzene deal was done at $875/tonne CIF ARA (Amsterdam, Rotterdam, Antwerp). January closed notionally at $865-870/tonne, and January closed at $890-915/tonne.

STYRENE: One December intertrade deal was done at $1,045/tonne FOB (free on board) Rotterdam. November closed at $1,045-1,055/tonne, and December $1,045-1,055/tonne.

TOLUENE: Toluene was valued at $785-795/tonne FOB Rotterdam, down $5/tonne on the offer on the back of weaker crude.

MTBE: In the afternoon, two parcels of 1,000 tonnes were traded at $886/tonne FOB AR for 27 November - 1 December. Gasoline traded at $680-686/tonne FOB AR, putting the factor at 1.29-1.30.

XYLENES:  Paraxylene was valued at $960-990/tonne FOB Rotterdam.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
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