Corrected: EVENING SNAPSHOT - Europe Markets Summary

12 July 2011 17:07  [Source: ICIS news]

Correction: In the ICIS story headlined “EVENING SNAPSHOT - Europe Markets Summary” dated 12 July 2011, please read in the second paragraph … BRENT: $116.63/bbl … instead of … $111.63/bbl …. A corrected story follows.

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

CRUDE: August WTI: $95.79/bbl, up $0.64/bbl. August BRENT: $116.63/bbl, down $0.61/bbl
ICE Brent prices remained in negative territory driven by continued concerns over European debt problems while WTI prices managed to revert to positive figures.

NAPHTHA: $969-977/tonne, up $16/tonne
The cargo range made gains from earlier in the day, driven by higher crude oil prices and a slightly stronger crack spread. August swaps were assessed at $970-971/tonne.

BENZENE: $1,120-1,140/tonne, up $5-10/tonne
There were unconfirmed deals for July heard at $1,135/tonne and $1,140/tonne. The range edged up slightly on firmer crude and energy numbers as well as gains in the US. August remained in contango at $1,130-1,150/tonne.

STYRENE: $1,380-1,400/tonne, up $5/tonne
July edged up by $5/tonne despite crude losses in a quiet market. There was an unconfirmed deal heard at $1,390/tonne. August offers moved down to $1,404/tonne.

TOLUENE: $1,160-1,220/tonne, up $20/tonne
The bid/offer range for July moved up on continued tightness in the market.

MTBE: $1,243-1,245/tonne, down $6/tonne
Two deals were done at marginally lower prices. EuroBob gasoline traded at $1,036-1,044/tonne, putting the MTBE factor against cash barges at 1.20-1.21.

PARAXYLENE: $1,490-1,510/tonne, steady
July paraxylene (PX) spot prices remain unchanged in the absence of any bids or offers or shift in spot PX prices in Asia or the US.

For more pricing intelligence please visit ICIS pricing


By: Staff Reporter
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