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 ?xml:namespace>
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
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