27 November 2012 17:38 [Source: ICIS news]
LONDON (ICIS)--Here is Tuesday’s end of day European oil and chemical market summary from ICIS.
CRUDE: January WTI: $87.60/bbl, down 14 cents/bbl. January BRENT: $110.06/bbl, down 86 cents/bbl
Crude oil futures weakened, pressured by ongoing budget negotiations in the ?xml:namespace>
NAPHTHA: $923-925/tonne, down $8-9/tonne
The cargo range lost ground as a result of lower crude oil values. There were two trades this afternoon. December swaps were assessed at $919-920/tonne.
BENZENE: $1,410-1,415/tonne, up $20/tonne on buy side
December bids dropped as low as $1,380/tonne before the market recovered, moving above $1,400/tonne. January was also slightly higher at $1,410-1,420/tonne, and players expect the offer level to move up further amid bullish sentiment for the new year and firmer Asian numbers.
STYRENE: $1,540-1,570/tonne, up $5-10/tonne
Values edged up this afternoon on continued pressure coming from a bullish benzene market as well as talk of exports from the ARA region to
TOLUENE: $1,320-1,340/tonne, steady
The spot market was quiet and the range was steady ahead of December contract discussions later this week.
MTBE: $1,168/tonne, down $2-3/tonne
Prices softened slightly with one trade at $1,168/tonne
For more pricing intelligence visit ICIS pricing
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections