EVENING SNAPSHOT – Europe Markets Summary

12 October 2012 17:10  [Source: ICIS news]

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

CRUDE: November WTI: $92.32/bbl, up 25 cents/bbl. November BRENT: $114.84/bbl, down 87 cents/bbl
ICE Brent crude oil futures remained in negative territory late on Friday after the Energy Information Administration slashed its global oil demand growth forecast.

NAPHTHA: $966-968/tonne, down $9/tonne
The cargo range lost ground from earlier in the day as a result of lower crude oil prices and a weaker crack spread. Two trades took place this afternoon. November swaps were assessed at $939-940/tonne.

BENZENE: $1,280-1,300/tonne, steady
The market was quiet and the range was unchanged. November was backwardated at $1,270-1,290/tonne.

STYRENE: $1,600-1640/tonne, steady
October traded at $1,610/tonne this afternoon, within the current range. November was backwardated at $1,600-1,615/tonne.

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

MTBE: $1,286.25/tonne, down $29.75/tonne
Prices fell along with weaker gasoline numbers, keeping the factor steady. EuroBob gasoline traded at $1,063-1,065/tonne, putting the MTBE factor against cash barges at 1.21.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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