EVENING SNAPSHOT – Europe Markets Summary

14 September 2012 17:06  [Source: ICIS news]

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

CRUDE: October WTI: $99.50/bbl, up $1.19/bbl. November BRENT: $117.07/bbl, up $1.19/bbl
Crude oil futures remained in positive territory late on Friday finding support from yesterday’s announcement that the US Federal Reserve will buy $40bn/month of agency mortgage-backed securities in a bid to boost the US economy.

NAPHTHA: $1,001-1,005/tonne, down $3-5/tonne
The cargo range slipped from earlier in the day as the effects of lower crude oil prices overrode those of a firmer crack spread. Three trades took place this afternoon. October swaps were assessed at $985-987/tonne.

BENZENE: $1,460-1,480/tonne, down $20/tonne on the sell side
Offers for September came down to $1,480/tonne. October was valued at $1,340-1,375/tonne, and the first half of the month was valued higher at $1,350-1,400/tonne.

STYRENE: $1,725-1,750/tonne, up $10-25/tonne
Bids for September edged up to $1,725/tonne and the range was assessed higher. October was valued at $1,700-1,750/tonne.

TOLUENE: $1,440-1,460/tonne, up $10-20/tonne
The range was valued around the $1,450/tonne market following a 2,000 tonne deal reported at this level. Availability remains extremely tight in what many players describe as a dry market.

MTBE: $1,400-1,405/tonne, down $19-24/tonne
Prices slipped with two trades, alongside an inactive gasoline market. EuroBob gasoline did not trade, with bids seen at $1,117/tonne.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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