EVENING SNAPSHOT - Europe Markets Summary

25 November 2009 17:08  [Source: ICIS news]

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

CRUDE: January WTI: $76.05/bbl, up $0.03/bbl. January BRENT: $76.80/bbl, up $0.34/bbl

Prices recovered from the lows posted just before the weekly US stock data from the Energy Information Administration (EIA) was published. The data showed a slightly smaller-than-anticipated build on crude stocks, plus a slightly larger-than-predicted draw on distillates.

NAPHTHA: Open spec spot cargoes were assessed in a $684-688/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, up $10/tonne CIF NWE on the buy side of the range set earlier in the day. December swaps were pegged at $680-681/tonne CIF NWE. One trader bid at $684/tonne CIF NWE for 6-10 December

BENZENE: December price ideas were up $5/tonne on the back of rebounding crude values. December was valued at $860-875/tonne CIF ARA.

STYRENE: December styrene price ideas widened in afternoon trading following deals done in a $1,045-1,060/tonne CIF ARA price range. Bids were reported at $1,050/tonne, down $10/tonne, with offers at $1,075/tonne, up $5/tonne. Trucks business was also reported at $1,075 FCA (free carrier) for January.

TOLUENE: The European toluene market was quiet and no deals were recorded. Offers dipped $5/tonne to $795/tonne FOB Rotterdam. Bids were unchanged at $785/tonne.

MTBE: Two parcels of 1,000 tonnes were traded at $875/tonne FOB AR, down from Wednesday’s trades at $886/tonne. One was for 30 November-4 December and the other for 3-7 December. Gasoline traded at $682-690/tonne FOB AR, putting the factor at 1.27-1.28.

XYLENES: Paraxylene was bid at $960/tonne FOB Rotterdam, but offers were scarce.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
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