EVENING SNAPSHOT - Europe Markets Summary

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

CRUDE: May WTI: $81.32/bbl, down $1.95/bbl. June BRENT: $84.01/bbl, down $1.99/bbl.

Crude futures continued to trade substantially in negative territory on the back of concerns over the fraud charges on US investment bank Goldman Sachs.

NAPHTHA: Open spec spot cargoes were assessed in a $722-732/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, up $14/tonne from the range set earlier in the day. May swaps were pegged at $722-723/tonne CIF NWE. Prices recovered due to stablising crude prices and a firmer crack spread.

BENZENE: April values closed lower as buying interest was weak, at $1,090-1,110/tonne CIF ARA (Amsterdam, Rotterdam, Antwerp). May was pegged at $1,060-1,080/tonne.

STYRENE: Two April deals from trade to industry were reported at $1,377/tonne FOB (free on board) Rotterdam. April closed at $1,375-1,390/tonne and May at $1,340-1,350/tonne.

TOLUENE: The toluene market remained unchanged at $890-920/tonne FOB Rotterdam.

MTBE: Two trades were seen this afternoon; at $837/tonne for 22-26 April and $840/tonne for 30 April – 4 May, both FOB AR. Gasoline traded at $763-769/tonne FOB AR, putting the factor against cash barges at 1.09-1.10.

XYLENES: No new values were heard in the paraxylene market and numbers were stable at $1,000-1,060/tonne FOB Rotterdam.