EVENING SNAPSHOT – Europe Markets Summary

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

CRUDE: May WTI: $102.86/bbl, up $1.39/bbl. May BRENT: $122.93/bbl, up 59 cents/bbl
Crude oil futures extended gains on Thursday with the front-month May WTI contract gaining more than $1.00/bbl compared with Wednesday’s close as traders closed off their positions ahead of the Easter break. 

NAPHTHA: $1,071–1,077/tonne, up $13–15/tonne (from early 12:30 UK time window)
The cargo range climbed from earlier in the day, driven by a stronger crack spread. Two trades took place this afternoon. April swaps were assessed at $1,064–1,066/tonne.

BENZENE: $1,170–1,180/tonne, offers down by $5/tonne
April offers fell slightly but no business was done. May is $10/tonne higher.

STYRENE: $1,435–1,450/tonne, bids down by $5/tonne
The market remained quiet throughout the afternoon. May is backwardated at $1,425–1,440/tonne.

TOLUENE: $1,240–1,255/tonne, steady
The range is unchanged in an illiquid market.

MTBE: $1,547/tonne, unchanged.
No deals were done and the price is assessed stable. EuroBob gasoline traded at $1,173–1,178/tonne.