29 October 2012 17:17 [Source: ICIS news]
LONDON (ICIS)--Here is Monday’s end of day European oil and chemical market summary from ICIS.
CRUDE: December WTI: $85.20/bbl, down $1.08/bbl. December BRENT: $109.13/bbl, down 42 cents/bbl
WTI crude futures lost more than $1/bbl on a firming US dollar. Reduced output from refineries ahead of the arrival of Hurricane Sandy added further downward pressure to prices.
NAPHTHA: $942-944/tonne, down $6-7/tonne
The cargo range lost ground from earlier in the day as a result of lower crude oil prices and a softer crack spread. November swaps were assessed at $928-930/tonne.
BENZENE: $1,330-1,350/tonne, up $10/tonne
The market edged back up this afternoon, and a November deal was done at $1,340/tonne. The first half of November was valued at a premium with offers as high as $1,370/tonne. December was backwardated at $1,285-1,340/tonne.
STYRENE: $1,487-1,515/tonne, down $3-5/tonne
The market remained relatively steady throughout the day. There was talk of a November deal at $1,510/tonne earlier but this was so far unconfirmed. December was valued at $1,480-1,520/tonne.
TOLUENE: $1,340-1,385/tonne, steady
The market was quiet and the spot range for November was steady.
MTBE: $1,160/tonne, up $45/tonne
The market regained some of last week’s lost ground with a single afternoon trade. EuroBob gasoline traded at $940-941/tonne, putting the MTBE factor against cash barges at 1.23.
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