EVENING SNAPSHOT – Europe Markets Summary

03 August 2012 17:04  [Source: ICIS news]

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

CRUDE: September WTI: $90.80/bbl, up $3.67/bbl. September BRENT: $108.60/bbl, up $2.70/bbl
Better-than-expected US new jobs data sent prices soaring, in tandem with buoyant stock markets.

NAPHTHA: $887-889/tonne, up $26/tonne
Prices firmed on both higher crude numbers and a stronger crack spread. One cargo deal was done in the range above. September swaps were assessed at $894-895/tonne.

BENZENE: $1,305-1,315/tonne, up $5-20/tonne
August values centred on the $1,310/tonne level. The first half of the month was higher at $1,325-1,350/tonne. September was valued up from earlier at $1,260-1,285/tonne.

STYRENE: $1,480-1,500/tonne, up $10/tonne on the buy side
Bids for August moved up to $1,480/tonne but the market was largely subdued. September was valued at $1,470-1,495/tonne.

TOLUENE: $1,130-1,165/tonne, steady
The spot market was quiet with bids and offers levels notional.

MTBE: $1,360-1,361/tonne, unchanged
There was minimal activity in the MTBE market, with only one high offer that was later withdrawn. EuroBob gasoline traded at $1,027-1,029/tonne.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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