NOON SNAPSHOT - Europe Markets Summary

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

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

CRUDE: January WTI: $76.08/bbl, up $0.03/bbl. January BRENT: $77.23/bbl, up $0.05/bbl.

The oil markets were range bound but trading marginally in positive territory as the US dollar lost some ground after the effect of the Dubai debt crisis abated when reports emerged that the United Arab Emirates planned to help the troubled banks.

NAPHTHA: Open spec spot cargoes were assessed in a $684-694/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, up $2/tonne CIF NWE on the buy side of the range set at the end of trading on Friday. December swaps were pegged at $684-686/tonne CIF NWE.

BENZENE: December benzene was talked at $850-870/tonne CIF ARA (Amsterdam, Rotterdam, Antwerp), no January numbers were heard yet.

STYRENE: December styrene was pegged at $1,055-1,070/tonne FOB (free on board) Rotterdam. January was higher at $1,075-1,100/tonne.

TOLUENE: A range for December was heard this morning at $760-790/tonne FOB Rotterdam, slightly down from previous indications due to continued weak buying interest.

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 $690-691/tonne FOB AR in the morning, pegging a range for MTBE between $883-891/tonne FOB AR

XYLENES: There were no firm bids or offers for paraxylene this morning, and the range was unchanged at $970-1,000/tonne FOB Rotterdam.

For more pricing intelligence please visit ICIS pricing

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