EVENING SNAPSHOT – Europe Markets Summary

08 November 2012 17:07  [Source: ICIS news]

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

CRUDE: December WTI: $84.82/bbl, up 38 cents/bbl. December BRENT: $106.85/bbl, up 3 cents/bbl
Crude oil futures remained in positive territory late on Thursday but gains were capped by growing concerns over the health of the global economy and concerns over US budget cuts from January next year.

NAPHTHA: $915-920/tonne, down $9-12/tonne.
The cargo range lost ground on the back of lower crude oil prices. Three trades took place this afternoon. December swaps were assessed at $897-898/tonne.

BENZENE: $1,380-1,400/tonne, up $15/tonne on the buy side
Bids for November moved up to $1,380/tonne. December was backwardated at $1,370-1,390/tonne.

STYRENE: $1,525-1,575/tonne, down $5-35/tonne
The market moved back down, notably so on the buy side, as appetite among consumers waned at current price levels. December remains flat with October.

TOLUENE: $1,330-1,370/tonne, down $5/tonne on the sell side
November offers edged down slightly in a quiet market as the sharp midweek dip on crude futures also helped bring selling ideas down.

MTBE: $1,112/tonne, up $15-20/tonne
Prices rose with one deal during open market trading. EuroBob gasoline traded at $935-945/tonne FOB AR, putting the MTBE factor against cash barges at 1.18-1.19.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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