EVENING SNAPSHOT - Europe Markets Summary

25 March 2011 17:06  [Source: ICIS news]

LONDON (ICIS)--Here is Friday’s end of day European oil and chemical market summary from ICIS.

CRUDE: May WTI: $105.09/bbl, down $0.51/bbl. May BRENT: $115.53/bbl, down $0.19/bbl
Crude oil futures were relatively unchanged from Thursday as the negative effect of fears over the debt crisis in Europe was countered by supply disruptions in Libya and the risk of further unrest in the Middle East.

NAPHTHA: $993-1001/tonne, up $6/tonne
The cargo range climbed from earlier in the day, driven by a stronger crack spread. One trade took place this afternoon. April swaps were assessed at $988-989/tonne.

BENZENE: $1,205-1,215/tonne, up $5-15/tonne
April benzene traded in the afternoon session at $1,210/tonne CIF ARA. March and April were both valued at $1,205-1,215/tonne CIF ARA, following the deal.

STYRENE: $1,467-1,480/tonne, steady
The market was quiet with no deals. March and April prices were unchanged from the morning session.

TOLUENE: $1,040-1,070/tonne, steady
April toluene bids and offers were unchanged. Traders described the market was very quiet owing to the upcoming NPRA meeting in the US.

MTBE: $1,198-1,202/tonne, up by $18-34/tonne
Prices continued to increase more or less in line with gasoline prices. EuroBob gasoline traded at $958-963/tonne, putting the MTBE factor against cash barges at 1.25.

PARAXYLENE: $1,710-1,720/tonne, steady
Spot prices were steady and there were no bids or offers. Product remained tight and demand strong.

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By: Staff Reporter
+44 20 8652 3214



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