EVENING SNAPSHOT – Europe Markets Summary

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

CRUDE: June WTI: $93.14/bbl, down 84 cents/bbl. June BRENT: $111.70/bbl, down 54 cents/bbl
Futures recovered from the lows reached earlier in the day on data from the Energy Information Administration that showed a larger-than-expected draw in distillate stocks in the US.

NAPHTHA: $877–885/tonne, up $6/tonne
The cargo range climbed from earlier in the day, driven by higher crude oil prices. June swaps were assessed at $880–881/tonne.

BENZENE: $1,195–1,205/tonne, up $15–35/tonne
The market regained some lost ground this afternoon. May traded at $1,200/tonne, while June was valued at $1,175–1,185/tonne.

STYRENE: $1,390–1,400/tonne, down $20–30/tonne
May traded at $1,380/tonne, the market falling from earlier on continued bearishness upstream, but eventually recovered with bids at $1,390/tonne. June traded at $1,400/tonne.

TOLUENE: $1,190–1,210/tonne, steady
The market was quiet and the range was unchanged.

MTBE: $1,146/tonne, unchanged
No deals were done, while bids were at $1,135/tonne. EuroBob gasoline traded at $999–1,005/tonne.