EVENING SNAPSHOT – Europe Markets Summary

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

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

CRUDE: January WTI: $87.10/bbl, down 28 cents/bbl. January BRENT: $110.17/bbl, down 69 cents/bbl
Futures continued to trade in negative territory as concerns over supply eased following a ceasefire between Israel and Hamas forces in Gaza. A recovery in Chinese manufacturing data limited the losses made.

NAPHTHA: $918-920/tonne, down $5-6/tonne
The cargo range lost ground from earlier in the day as a result of lower crude oil values. There was one trade this afternoon. December swaps were assessed at $910-912/tonne.

BENZENE: $1,360-1,375/tonne, narrowing
The range for both months narrowed this afternoon. January was firmer at $1,365-1,400/tonne.

STYRENE: $1,470-1,490/tonne, up $30/tonne
The market edged back up on continued pressure from benzene. November later traded at $1,480/tonne. December was valued higher at $1,500-1,510/tonne and there was a deal done at $1,500/tonne. January traded at $1,530/tonne.

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 for TDI grade amongst downstream players.

MTBE: $1,145tonne, up $3-20/tonne
Prices increased with one afternoon deal. EuroBob gasoline traded at $970-974/tonne, outing the MTBE factor against cash barges at 1.18.

For more intelligence pricing please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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