29 November 2012 17:04 [Source: ICIS news]
LONDON (ICIS)--Here is Thursday’s end of day European oil and chemical market summary from ICIS.
CRUDE: January WTI: $88.20/bbl, up $1.71/bbl. January BRENT: $110.85/bbl, up $1.34/bbl
Prices continued to gain ground as optimism that a deal can be reached on the US budget added to earlier concerns over the spreading tensions in the Middle East.
NAPHTHA: $946-948/tonne, up $1-2/tonne
The cargo range edged up from earlier in the day as a result of a stronger crack spread. There were three trades this afternoon. December swaps were assessed at $939-941/tonne.
BENZENE: $1,415-1,425/tonne, narrowing
December bids and offers narrowed this afternoon, while January bids edged up to $1,420/tonne on continued bullishness for the new year.
STYRENE: $1,550-1,565/tonne, narrowing
The market was quiet this afternoon, with no deals heard. The range for December narrowed, while January was still in a firm contango at $1,575-1,595/tonne.
TOLUENE: $1,280-1,320/tonne, steady
The market remained quiet, and the December range was steady with buyers below $1,300/tonne while sellers remain unwilling to follow amid bullish oil and energy numbers.
MTBE: $1,152/tonne, up $7/tonne on the low end of the range, down $12/tonne on the high end
MTBE traded within the previous day's range, with one trade at $1,152/tonne FOB AR. EuroBob gasoline did not trade.
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