EVENING SNAPSHOT – Europe Markets Summary

28 November 2012 17:17  [Source: ICIS news]

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

CRUDE: January WTI: $86.12/bbl, down $1.06/bbl. January BRENT: $108.87/bbl, down $1.00/bbl
Crude oil futures weakened on Wednesday pressured by ongoing budget talks in Washington and an unexpected draw in US crude oil stocks in the week ending 23 November.

NAPHTHA: $927-928/tonne, up $1-2/tonne
The cargo range edged up from earlier in the day, with three trades taking place this afternoon. December swaps were assessed at $918-920/tonne.

BENZENE: $1,415-1,435/tonne, down $5-10/tonne
The market edged down slightly for December this afternoon, although overall sentiment remains bullish. January was in contango at $1,430-1,450/tonne.

STYRENE: $1,560-1,575/tonne, down $15-20/tonne
December bids and offers eased slightly as benzene softened this afternoon. January closed at $1,575-1,600/tonne.

TOLUENE: $1,280-1,320/tonne, down $20-40/tonne
The market remained quiet, and the December range decreased further, notably on the buy side, with slow demand driving prices down amid a sense that values will drop further next month.

MTBE: $1,145-1,164/tonne, down $4-23/tonne
MTBE prices softened further with two trades done during open market trading. EuroBob gasoline traded at $944-954/tonne FOB AR, putting the MTBE factor against cash barges at 1.21-1.22.

For more intelligence pricing please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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