EVENING SNAPSHOT – Europe Markets Summary

26 June 2012 17:10  [Source: ICIS news]

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

CRUDE: August WTI: $79.05/bbl, down 16 cents/bbl. August BRENT: $91.74/bbl, up 73 cents/bbl
The front-month August ICE Brent contract strengthened late on Tuesday supported by the euro falling to a two-week low against the dollar.

NAPHTHA: $710-717/tonne, down $7-8/tonne
The cargo range slipped from earlier in the day due to slightly lower crude oil prices. Two trades took place this afternoon. July swaps were assessed at $715-717/tonne.

BENZENE: $1,170-1,180/tonne, up $5-15/tonne
The market gained some of the ground lost earlier in the day. The first half of July was still valued higher at $1,190-1,220/tonne. August bids were at $1,055/tonne and $1,060/tonne but there were no corresponding offers.

STYRENE: $1,300-1,320/tonne, up $10-30/tonne
The market recovered for July, noticeably at the lower end, as benzene also moved up this afternoon. August was valued at $1,275-1,315/tonne.

TOLUENE: $1,160-1,180/tonne, steady
The market was quiet and the range for June was steady

MTBE: $1,093-1,107/tonne, steady
There were no MTBE trades during open market trading, with the spot price range assessed stable. EuroBob gasoline traded at $915-924/tonne FOB AR.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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