EVENING SNAPSHOT - Europe Markets Summary

31 March 2011 17:28  [Source: ICIS news]

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

CRUDE: May WTI: $105.95/bbl, up $1.68/bbl. May BRENT: $117.00/bbl, up $1.87/bbl
Prices eased back from the highs posted earlier when optimistic US jobless claims data added to the supportive effects of a weaker US dollar and the ongoing Libyan conflict.

NAPHTHA: $1,006-1,014/tonne, up $5/tonne
The cargo range climbed from earlier in the day, driven by higher crude oil prices. April swaps were assessed at $994-997/tonne.

BENZENE: $1,230-1,235/tonne, up $5-15/tonne
The range for April narrowed this afternoon to $1,220-1,230/tonne. May was valued $5/tonne higher. April later traded at $1,230/tonne, and firmer crude levels saw the range move up.

STYRENE: $1,505-1,520/tonne, up $15/tonne on the buy side
April bids moved up to $1,505/tonne, and there was talk of a deal at $1,510/tonne although this was so far unconfirmed.

TOLUENE: $1,040-1,070/tonne, steady
The market was quiet, and the range for April was unchanged.

PARAXYLENE: $1,660-1,670/tonne, down $20/tonne
European paraxylene (PX) spot prices continued to ease on the back of weaker spot PX values in Asia. Traders reiterated that there simply was no spot PX market in Europe since volumes were fully contracted.

Click here for more pricing intelligence

By: Staff Reporter
+44 20 8652 3214

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly