EVENING SNAPSHOT – Europe Markets Summary

14 June 2012 17:23  [Source: ICIS news]

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

CRUDE: July WTI: $83.28/bbl, up 66 cents/bbl. July BRENT: $97.20/bbl, up 7 cents/bbl
WTI crude oil futures gained on Thursday supported by firmer stocks including the Dow Jones Industrial Average and Standard & Poor’s 500 Index. Brent, however, spent much of the day in negative territory after Spain’s benchmark 10-year bonds exceeded 7%.

NAPHTHA: $727-735/tonne, up $13/tonne
The cargo range climbed from earlier in the day, driven by higher crude oil prices and a firmer crack spread. July swaps were assessed at $732-734/tonne.

BENZENE: $1,265-1,320/tonne, steady
The market was quiet this afternoon, with players attending the European Petrochemical Luncheon. The range was unchanged.

STYRENE: $1,280-1,300/tonne, steady
A deal for June delivery was heard from yesterday at $1,250/tonne, but the range this afternoon was unchanged from earlier. July was valued at $1,240-1,260/tonne.

TOLUENE: $1,140-1,190/tonne, steady
The market was quiet, and the range for June was steady.

MTBE: $1,080-1,110/tonne, steady
There were no MTBE trades during open market trading and the range is assessed unchanged.

EuroBob gasoline traded at $927-934/tonne FOB AR.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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