EVENING SNAPSHOT – Europe Markets Summary

12 November 2012 17:03  [Source: ICIS news]

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

CRUDE: Dec WTI: $85.85/bbl, down 22 cents/bbl. Dec BRENT: $109.38/bbl, down 2 cents/bbl
Prices remained under pressure throughout the afternoon session on weak economic data from Japan and concerns that the US may slip into recession as the world’s largest oil consumer looks set to introduce $600bn worth of tax increases and budget cuts.

NAPHTHA: $953-955/tonne, up $5/tonne
Assessed cargo prices moved up on firmer crude oil numbers. No trades took place. December swaps were assessed at $933-934/tonne.

BENZENE: $1,350-1,375/tonne, steady
The market was quiet as industry headed to the 11th World ICIS Aromatics and Derivative Conference in Berlin, Germany. November and December benzene prices were steady.

STYRENE: $1,480-1,510/tonne, offer down $10/tonne
A November deal was recorded at $1,480/tonne. The offer came down by $10/tonne. December was pegged level with November. Sources described the market as very quiet.

TOLUENE: $1,330-1,370/tonne, steady
Mild fluctuations in crude did little to move toluene spot prices from Friday’s close.

MTBE: $1,126/tonne, up $14/tonne
Prices firmed slightly with one afternoon trade amid higher gasoline numbers. EuroBob gasoline traded at $965-980/tonne FOB AR, putting the MTBE factor against cash barges at 1.15-1.17.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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