EVENING SNAPSHOT – Europe Markets Summary

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

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

CRUDE: January WTI: $87.56/bbl, down $1.72/bbl. January BRENT: $110.28/bbl, down $1.42/bbl
Crude oil futures extended losses late on Tuesday after a Hamas official said Israel and Gaza militants have agreed on a ceasefire.

NAPHTHA: $928-929/tonne, down $8-17/tonne
The cargo range lost ground from earlier in the day as a result of lower crude oil prices and a weaker crack spread. Two trades took place this afternoon. December swaps were assessed at $916-918/tonne.

BENZENE: $1,360-1,375/tonne, narrowing
November later narrowed to $1,370-1,375/tonne before falling in tandem with crude values. Bids were as low as $1,350/tonne before higher US numbers helped support a slight upturn late in the day. December was flat with November throughout the day.

STYRENE: $1,460-1,490/tonne, down $10/tonne on the sell side
November offers moved down this afternoon in a quiet market. December was in contango at $1,490-1,540/tonne, with sellers bullish for the upcoming month while buyers remain unwilling to move over the $1,500/tonne mark.

TOLUENE: $1,320-1,340/tonne, down $10/tonne
The range was assessed lower in a quiet market. Offers were valued around the November contract level although appetite for spot material amongst buyers remains low.

MTBE: $1,140-1,150/tonne, down $10-20/tonne
No deals were done but prices are assessed lower on offers seen. EuroBob gasoline traded at $961.00-982.50/tonne.

For more intelligence pricing please visit ICIS pricing


By: Staff Reporter
+44 20 8652 3214



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