NOON SNAPSHOT - Europe Markets Summary
26 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: January WTI: $77.34/bbl, down $0.62/bbl. January BRENT: $78.20/bbl, down $0.24/bbl
Crude prices fell at one stage by more than $1/bbl before recovering some ground, with downward pressure coming from a slip in equities and a recovery in the dollar.
NAPHTHA: Open spec spot cargoes were assessed in a $688-698/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, up $4/tonne CIF NWE on the buy side of the range set at the end of trading on Wednesday. December swaps were pegged at $688-689/tonne CIF NWE. Prices moved up in line with crude, which was higher on Thursday than at
BENZENE: A December benzene deal was rumoured at $870/tonne CIF ARA. December bids and offers were at $865-880/tonne, up $10/tonne on the bid side following the news of the rumoured deal.
STYRENE: Styrene price ideas were scarce, with many active participants attending the 8th European Aromatics & Derivatives Conference in
TOLUENE: The European toluene market was quiet and no deals were recorded. November and December toluene was pegged unchanged at $785-795/tonne FOB
MTBE: No physical bids or offers were heard for MTBE in the morning, but a notional factor range was set at 1.28-1.29. Gasoline traded at $693/tonne
XYLENES: Paraxylene was valued at $960-990/tonne FOB
For more pricing intelligence please visit ICIS pricing
By: Staff Reporter
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