08 June 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--Decreases in crude oil and jet fuel values have seen white spirit spot prices soften by €30/tonne ($37/tonne) this week, sources said on Friday.
From 9 May to 7 June outright jet fuel values have fallen by more than $100/tonne for both barges and cargoes in northwest Europe (NWE).
The market is now seeing the trickle down effects of the fall in feedstock values and sources said that the price of white spirit and other solvents such as hexane and naphtha solvent will continue to soften as the month continues.
In the UK white spirit market prices have softened to around 58-60 pence/litre FD (free delivered), down from 59-63 pence/litre last week, for the same reasons.
Another source said any further decreases in feedstock values should be noticed in the UK white spirit market in mid-June.
White spirit spot prices were assessed at €870-920/tonne FD NWE by ICIS.
($1 = €0.79)
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