23 November 2012 17:02 [Source: ICIS news]
Correction: In the ICIS news story headlined “EVENING SNAPSHOT – Europe Markets Summary” dated 23 November 2012, please read in the second paragraph … CRUDE: January WTI: $88.35/bbl … instead of … CRUDE: December WTI … A corrected story follows.LONDON (ICIS)--Here is Friday’s end of day European oil and chemical market summary from ICIS.
CRUDE: January WTI: $88.35/bbl, up 97 cents/bbl. January BRENT: $111.29/bbl, up 74 cents/bbl
Crude oil futures gained on Friday finding support from violence in Egypt and concerns that this could spread to oil exporting regions such as Libya. Prices were also supported by rising German business sentiment.
NAPHTHA: $926-928/tonne, up $5/tonne
The cargo range climbed from earlier in the day, driven by higher crude oil prices. December swaps were assessed at $918-919/tonne.
BENZENE: $1,380-1,400/tonne, down $10-15/tonne
Deals were done at $1,400/tonne, $1,390/tonne and then later at $1,385/tonne as the market slipped back down following the spike seen earlier today. December was valued at $1,380-1,395/tonne, and a deal was done at $1,380/tonne.
STYRENE: $1,470-1,490/tonne, steady
Bids for November were at $1,470/tonne and $1,475/tonne in an otherwise quiet market. December was firmer at $1,510-1,545/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 and possible emerging production problems with one major European supplier.
MTBE: $1,145tonne, unchanged
No deals were seen and the range is assessed unchanged. EuroBob gasoline traded at $955-959/tonne.
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