EVENING SNAPSHOT - Europe Markets Summary

16 June 2011 17:12  [Source: ICIS news]

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

CRUDE: July WTI: $94.60/bbl, down $0.22/bbl. August BRENT: $113.30/bbl, up $0.26/bbl
Front-month August ICE Brent gained after being driven by an IEA report forecasting oil demand to increase 1.3m bbl/day from 2010 levels.

NAPHTHA: $930-938/tonne, up $2/tonne
The cargo range edged up due to higher crude oil prices. July swaps were assessed at $933–936/tonne.

BENZENE: $1,115-1,130/tonne, steady
Prices unchanged in the market. No firm bids or offers were seen as the majority of market participants were attending an industry event in Copenhagen.

STYRENE: $1,360-1,390/tonne, steady
Prices in Europe were steady. No firm bids or offers were seen as most market participants were at an industry event.

TOLUENE: $1,080-1,110/tonne, down $20
The market was void of any spot activity, however, a deal was done at $1,105/tonne earlier in the week.

PARAXYLENE: $1,450-1,480/tonne, steady
Spot prices were unchanged and there were no buying or selling price ideas for June.

MTBE: $1,130-1,133/tonne, down $38-48/tonne
Three trades were down significantly down from the previous range in reflection of weaker gasoline prices. EuroBob gasoline traded at $998-1,005/tonne, down $28-30/tonne, putting the MTBE factor against cash barges at 1.13.

For more pricing intelligence, please visit ICIS pricing
By: Staff Reporter
+44 20 8652 3214

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