EVENING SNAPSHOT – Europe Markets Summary

09 November 2012 17:10  [Source: ICIS news]

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

December WTI: $85.73/bbl, up 64 cents/bbl. December BRENT: $108.01/bbl, up 76 cents/bbl
Crude oil futures rebounded late on Friday after a report showed US consumer sentiment increased to the highest level for more than five years. Prices were also supported by stronger than expected economic data from China.

: $932-934/tonne, up $14-17/tonne.
The cargo range climbed from earlier in the day, driven by higher crude oil prices and a stronger crack spread. One trade took place this afternoon. December swaps were assessed at $912-914/tonne.

$1,330-1,350/tonne, down $30-40/tonne
November continued to drop on bearish global economic sentiment and a weaker styrene market following the midweek spike seen. Deals were done at $1,350-1,370/tonne before the market closed lower. December traded at $1,360/tonne, and the range closed at $1,355-1,365/tonne.

STYRENE: $1,480-1,520/tonne, down $10-20/tonne
November moved lower again this afternoon. December remained in contango at $1,500-1,530/tonne. There was a deal talked at $1,505/tonne, but this was unconfirmed.

TOLUENE: $1,330-1,370/tonne, steady
November was steady in a quiet market, as the sharp midweek dip on crude futures also helped bring price ideas down. Nevertheless, balanced supply levels mitigated any downward turn on pricing.

: $1,112/tonne, steady
There were no MTBE trades during open market trading. EuroBob gasoline traded at $944-962/tonne FOB AR.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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