EVENING SNAPSHOT – Europe Markets Summary

06 December 2012 17:07  [Source: ICIS news]

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

CRUDE: January WTI: $86.20/bbl, down $1.68/bbl. January BRENT: $107.36/bbl, down $1.45/bbl
Crude oil futures weakened late on Thursday after the President of the European Central Bank, Mario Draghi said it expected weakness in the eurozone to persist.

NAPHTHA: $919-921/tonne, down $1-4/tonne
The cargo range edged down from earlier in the day as the effects of lower crude oil values overrode those of a stronger crack spread. There was one trade this afternoon. January swaps were assessed at $901-903tonne

BENZENE: $1,450-1,485/tonne, steady
The market was subdued during the afternoon session, and the range for December was unchanged from earlier. January was in a slight contango at $1,460-1,490/tonne.

STYRENE: $1,555-1,565/tonne, narrowing
December narrowed this afternoon in a relatively quiet market. There was an unconfirmed deal heard at $1,555/tonne. January was firmer at $1,580-1,590/tonne and a deal was done at $1,585/tonne.

TOLUENE: $1,280-1,320/tonne, steady
The market remained quiet and the December range was unchanged. Weak demand is keeping 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: $1,110-1,111/tonne, down $44-45/tonne
MTBE traded in the range $1,110-1,111/tonne during the open market. EuroBob gasoline traded in the range $925-926/tonne, putting the factor at 1.20.

For more intelligence pricing please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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