21 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: January WTI: $87.51/bbl, up 76 cents/bbl. January BRENT: $110.84/bbl, up $1.01/bbl
Crude oil futures remained in positive territory late on Wednesday finding support from conflict in the Middle East and an unexpected drop in crude oil stocks in the US last week.
NAPHTHA: $928-929/tonne, down $8/tonne
The cargo range slipped from earlier in the day as a result of lower crude oil prices and a weaker crack spread. There were four trades this afternoon. December swaps were assessed at $918-920/tonne.
BENZENE: $1,365-1,375/tonne, down $10/tonne on the sell side
Offers for both November and December gradually edged down this afternoon despite ongoing bullishness for crude. January was valued at $1,510-1,535/tonne.
STYRENE: $1,460-1,480/tonne, steady
November traded at $1,455/tonne today on a CIF basis. The market was otherwise quiet. December bids were steady at $1,480/tonne but not met with any offers.
TOLUENE: $1,320-1,340/tonne, steady
The spot market was quiet and the range was steady as weaker demand was counterbalanced by some concerns regarding availability amongst downstream players.
MTBE: $1,125-1,142tonne, down $8-15/tonne
There were two MTBE trades during open market trading. EuroBob gasoline traded at $980/tonne FOB AR, putting the MTBE factor against cash barges at 1.15-1.17.
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