EVENING SNAPSHOT – Europe Markets Summary

14 November 2012 17:00  [Source: ICIS news]

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

CRUDE: Dec WTI: $85.82/bbl, up 44 cents/bbl. Dec BRENT: $109.30/bbl, up $1.04/bbl
Crude oil futures gained in a short space of time late on Wednesday due to unrest in the Middle East following Israeli air strikes which killed the military leader of Palestinian group Hamas and bombings in Iraq which killed at least 17 people.

NAPHTHA: $925-930/tonne, down $3/tonne
Two cargo trades were done at $929-930/tonne. December swaps were assessed at $927-929/tonne.

BENZENE: $1,330-1,350/tonne, up $10/tonne on the buy side
November values edged down to $1,315-1,340/tonne in a subdued market but later moved back up as Brent saw gains of over $1/bbl. December bids came down as low as $1,305/tonne, but later closed at $1,325-1,340/tonne.

STYRENE: $1,440-1,480/tonne, down $10-25/tonne
November lost ground this afternoon alongside benzene, as the current month is well supplied and derivative demand remains soft. Bids moved as low as $1,430/tonne but the market later recovered to close at $1,440-1,480/tonne. December offers were at $1,480/tonne but not met with any bids, later edging back up to $1,490/tonne.

TOLUENE: $1,330-1,370/tonne, steady
November was steady in a quiet market. Nevertheless, balanced supply levels mitigated any downward turn on pricing.

MTBE: $1,114-1,117/tonne, down $9-12/tonne
Prices eased off with two afternoon trades. EuroBob gasoline traded at $951-963/tonne FOB AR.

For more intelligence pricing please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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