EVENING SNAPSHOT – Europe Markets Summary

11 October 2012 17:02  [Source: ICIS news]

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

CRUDE: November WTI: $92.41/bbl, up $1.16/bbl. November BRENT: $115.47/bbl, up $1.14/bbl
Crude oil futures remained in positive territory on Thursday supported by potential supply concerns from the Middle East. Prices however edged lower from intra-day highs after the Energy Information Administration reported a larger than expected build in crude oil stocks in the US.

NAPHTHA: $988-990/tonne, down $1/tonne
The cargo range edged down from earlier in the day as the effects of a softer crack spread overrode those of higher crude oil prices. Two trades took place this afternoon. November swaps were assessed at $963-965/tonne.

BENZENE: $1,250-1,285/tonne, down $10-15/tonne
The market started to lose some of the gains seen earlier today. November remained backwardated at $1,240-1,275/tonne.

STYRENE: $1,615-1,650/tonne, down $5-10/tonne
The market softened slightly with benzene this afternoon. November was valued at $1,605-1,630/tonne, with unconfirmed deals heard at $1,620/tonne and $1,625/tonne.

TOLUENE: $1,350-1,400/tonne, steady
The market was quiet and the spot range for October was steady.

MTBE: $1,316/tonne, up $11/tonne
No deals were done but the range was increased on bids seen. EuroBob gasoline traded at $1,087/tonne, putting the MTBE factor against cash barges notionally at 1.21, up two points.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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