EVENING SNAPSHOT – Europe Markets Summary

06 November 2012 17:13  [Source: ICIS news]

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

CRUDE: December WTI: $86.41/bbl, up 76 cents/bbl. December BRENT: $108.93/bbl, up $1.20/bbl
Crude oil futures extended gains after the North Sea Forties programme was released, showing the overall BFOE basket loading in December will be lower than the November basket.

NAPHTHA: $937-946/tonne, down $2/tonne on low side, up $4/tonne on high side.
The cargo range widened with two trades taking place. December swaps were assessed at $916-918/tonne.

BENZENE: $1,380-1,395/tonne, up $5-10/tonne
November continued to rise as crude gained ground. Offers for the first half the month were higher at $1,400/tonne. December bids were at $1,350/tonne.

STYRENE: $1,600-1,620/tonne, up $30-40/tonne
Bids for November moved up to $1,600/tonne following an unconfirmed deal at that level. Offers were at $1,620/tonne. December was flat with November. Shell Chemical declared force majeure on styrene today as a result of an unforeseen steam leakage at its Moerdijk plant in the Netherlands.

TOLUENE: $1,330-1,375/tonne, steady
November offers were steady at $1,375/tonne, while buying ideas remained significantly lower.

MTBE: $1,120/tonne, down $8-17/tonne
The range declined with one deal during open market trading. EuroBob gasoline traded at $940-949/tonne, putting the MTBE factor against cash barges at 1.18-1.19.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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