26 January 2011 17:33 [Source: ICIS news]
LONDON (ICIS)--Here is Wednesday’s end-of-day European oil and chemical market summary from ICIS.
CRUDE: March WTI: $86.20/bbl, up $0.01/bbl. March BRENT: $96.55/bbl, up $1.30/bbl
Earlier gains were eroded when the weekly ?xml:namespace>
BENZENE: $1,375-1,385/tonne, up $20/tonne
February traded at $1,355/tonne, and deals were later seen at $1,375-1,385/tonne. The range moved up to reflect higher numbers discussed in the market, as production problems led to a peak in buying interest.
STYRENE: $1,475-1,485/tonne, up $15-25/tonne
There were several February deals at $1,450-1,470/tonne, and the range moved up as a result of buying interest and upward pressure from the benzene market. February later traded at $1,475-1,485/tonne, and the range moved up to reflect this. March bids were seen at $1,450/tonne.
TOLUENE: $1,070-1,090/tonne, up $10/tonne on the sell side
The market remained quiet, with no firm business seen. The range was unchanged.
MTBE: $952-984/tonne, wider by $4/tonne
No trades were seen for the third day running. Gasoline traded at $828-849/tonne, which, combined with the factor against gasoline value of 1.15-1.16, produced the notional range of $952-984/tonne.
PARAXYLENE: $1,670-1,700/tonne steady
The European paraxylene spot market remained void of any availability. Sources reiterated that there simply was no spot market in
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