EVENING SNAPSHOT - Europe Markets Summary
01 March 2011 17:08 [Source: ICIS news]
LONDON (ICIS)--Here is Tuesday’s end-of-day European oil and chemical market summary from ICIS.
CRUDE: April WTI: $98.43/bbl, up $1.46/bbl. April BRENT: $113.77/bbl, up $1.97/bbl
Oil prices rose substantially, supported by worries over supply disruptions resulting from the ongoing political turmoil in
NAPHTHA: $971-979/tonne, up $24/tonne
The cargo range made significant gains from earlier in the day, driven by rises in the price of crude oil. One trade took place this afternoon. March swaps were assessed at $968-970/tonne.
BENZENE: $1,355-1,365/tonne, down $5-20/tonne
There was an unconfirmed March deal heard at $1,360/tonne, and the range moved down to reflect this.
STYRENE: $1,510-1,530/tonne, down $15-20/tonne
March traded at $1,520/tonne this afternoon, and a deal for April was done at $1,515/tonne. March bids were at $1,510/tonne, but no firm offers were seen.
TOLUENE: $1,080-1,100/tonne, steady
The market was quiet, with no firm business seen. The March range was steady. Initial March toluene contracts were agreed at $1,080-1,090/tonne FOB NWE, up $15-20/tonne from the previous month because of firmer crude and energy values.
MTBE: $1,124-1,126/tonne, up $30-31/tonne
Higher gasoline prices and strong demand from a trader pushed up both the flat price and the factor against gasoline. EuroBob gasoline traded at $960/tonne, putting the factor against cash barges at 1.17, up 1-2 points.
PARAXYLENE: $1,780-1,800/tonne, down $20/tonne
The market remained quiet today, with no firm buy/sell interest noted. The range for March was valued marginally lower.
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By: Staff Reporter
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