EVENING SNAPSHOT - Europe Markets Summary

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

CRUDE: May WTI: $84.90/bbl, down $0.98/bbl. May BRENT: $84.55/bbl, down $1.04/bbl.

A larger-than-forecast build on US natural gas stocks added further downward pressure to crude prices.

NAPHTHA: Open spec spot cargoes were assessed in a $712-722/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, down $5/tonne from the range set earlier in the day. April swaps were pegged at $712-714/tonne CIF NWE. Prices dropped due to lower crude prices.

BENZENE: Two April deals for delivery at any time were done at $1,165-1,175/tonne CIF ARA (Amsterdam, Rotterdam, Antwerp). April deals with delivery in the first half of the month were done at $1,215-1,250/tonne, all were sold by industry. April closed at $1,170-1,250/tonne. May was pegged at $1,055-1,075/tonne.

STYRENE: The market stayed stable at $1,400-1,420/tonne FOB (free on board) Rotterdam for April and $1,330-1,365/tonne for May as buying interest was weak.

TOLUENE: The market was quiet this afternoon, with no firm buying interest seen. The range remained pegged at $870-935/tonne FOB Rotterdam.

MTBE: Four trades were done this afternoon down $28-33/tonne from Wednesday. Two were for 13-17 April at $855/tone and $860/tonne, and two for 16-20 April, both $856/tonne. Gasoline trades at $781.50-787.00/tonne FOB AR, putting the factor against cash barges at 1.10.

XYLENES: The range for April paraxylene remained pegged at $1,000-1,040/tonne FOB Rotterdam this afternoon, in a quiet market with no firm bids or offers.