EVENING SNAPSHOT - Europe Markets Summary

15 June 2011 17:16  [Source: ICIS news]

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

CRUDE: July WTI: $99.46/bbl, up $0.09/bbl. July BRENT: $118.77/bbl, down $1.39/bbl
ICE Brent futures continued to decline from the morning, pressured by continued concerns over Greece’s debt problems. Eurozone finance ministers have yet to agree on a bailout package for the country.

NAPHTHA: $957-965/tonne, up $7/tonne
The cargo range climbed from earlier in the day. One trade took place this afternoon. July swaps were assessed at $960–962/tonne.

BENZENE: $1,115-1,130/tonne, down $25-30/tonne
Weaker energy figures pushed bids and offers down, with trade limited as several players were travelling to the European Petrochemical Luncheon.

STYRENE: $1,360-1,390/tonne, down $20-30
Bids and offers were largely notional in an inactive market. Numbers were pushed down on softening upstream values.

TOLUENE: $1,080-1,130/tonne, steady
There were no bids or offers in a very quiet market.

MTBE: $1,168-1,181/tonne, down $14/tonne
There were no trades for the fourth session running. Only offers were made at $1,181/tonne FOB, and the buy-side was notionally dropped by the same amount. EuroBob gasoline traded at $1,026-1,035/tonne.

PARAXYLENE: $1,450-1,480/tonne, steady
Spot prices were unchanged and the market was void of any buying or selling price ideas for June.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
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