EVENING SNAPSHOT - Europe Markets Summary

27 November 2009 17:28  [Source: ICIS news]

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

CRUDE: January WTI: $75.52/bbl, down $2.44/bbl. January BRENT: $76.59/bbl, down $0.40/bbl.

Prices changed direction to recoup most of the losses posted earlier in the day as fears of the impact of the Dubai debt crisis abated.

NAPHTHA: Open spec spot cargoes were assessed in a $682-688/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, up $15/tonne CIF NWE on the buy side of the range set earlier in the day. December swaps were pegged at $681-683/tonne CIF NWE. A trader bid in the afternoon at $682/tonne CFR Rotterdam for 10-14 December.

BENZENE: More December benzene deals were done at $845-860/tonne CIF ARA (Amsterdam, Rotterdam, Antwerp) and values were pegged at $850-860/tonne by the end of the day. No January values were heard, but were notionally put $5/tonne above December.

STYRENE: Two December styrene deals were done at $1,050-1,060/tonne FOB (free on board) Rotterdam. January closed notionally $10/tonne higher.

TOLUENE: The toluene market closed at $780-800/tonne FOB Rotterdam, up $5/tonne from the earlier high side.

MTBE: One trade was reported for MTBE in the afternoon, for 1,000 tonnes at $890/tonne FOB AR for 2-6 December. Gasoline traded in the afternoon between $690-694/tonne FOB AR, pegging a factor range for the trade between 1.28-1.29.

XYLENES: The paraxylene market remained quiet throughout the day and was unchanged $970-1,000/tonne FOB Rotterdam.
For more pricing intelligence please visit ICIS pricing

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By: Staff Reporter
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