04 December 2012 17:19 [Source: ICIS news]
LONDON (ICIS)--Here is Tuesday’s end of day European oil and chemical market summary from ICIS.
CRUDE: January WTI: $88.26/bbl, down 83 cents/bbl. January BRENT: $109.57/bbl, down $1.35/bbl
Crude oil futures weakened on Tuesday pressured by a lack of progress in US budget talks. Prices were also pressured by eurozone lawmakers which failed to reach a consensus regarding banking supervision in the eurozone.
NAPHTHA: $930-932/tonne, down $8/tonne
One cargo traded with the range above. January swaps were assessed at $919-920tonne.
BENZENE: $1,430-1,460/tonne, down $10/tonne
The market eased off slightly this afternoon as crude values weakened. January was valued flat with December.
STYRENE: $1,550-1,580/tonne, narrowing
The range for December narrowed this afternoon following two deals done at $1,560/tonne. January remains in contango at $1,570-1,600/tonne, and a deal was later done at $1,590/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 energy numbers. Several December contracts were confirmed at $1,295/tonne and $1,297/tonne FOB NWE, and further confirmation from players is pending.
MTBE: $1,155/tonne, narrower by $20-26/tonne
One trade took place within the previous assessed range. EuroBob gasoline traded at $953-957/tonne, putting the MTBE factor against cash barges at 1.21.
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