EVENING SNAPSHOT – Europe Markets Summary

15 November 2012 17:25  [Source: ICIS news]

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

CRUDE: December WTI: $85.97/bbl, down 35 cents/bbl. December BRENT: $110.70/bbl, up $1.09/bbl
Brent futures gained more than $1/bbl on heightened concerns over supply following violence in the Middle East. WTI prices were down after the Energy Information Administration’s inventory report showed that US crude oil stocks had increased last week.

: $929-931/tonne, narrower by $1-2/tonne
The market is stable with four trades at more or less the same level as Wednesday, despite higher crude prices. December swaps were assessed at $935-937/tonne.

BENZENE: $1,305-1,335/tonne, down $5/tonne on the sell side
The market was subdued, and the range for November was relatively steady. December was valued at $1,300-1,330/tonne, while January traded at $1,330/tonne.

STYRENE: $1,445-1,465/tonne, narrowing
The November range narrowed amid steady upstream values, although overall sentiment for prompt material is softening amid a sense that the current month is well supplied. There was an unconfirmed deal talked for December at $1,482/tonne, and the range closed at $1,480-1,490/tonne.

TOLUENE: $1,330-1,370/tonne, steady
November was steady in a quiet market. There were no clear buy/sell indications, although sources believe that offers for TDI grade are still firm.

MTBE: $1,117/tonne, up $3/tonne on the low side
The market is fairly stable with a solitary trade done at similar levels to Wednesday. EuroBob gasoline traded at $965/tonne.

For more intelligence pricing please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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