11 December 2012 17:05 [Source: ICIS news]
LONDON (ICIS)--Here is Tuesday’s end of day European oil and chemical market summary from ICIS.
CRUDE: January WTI: $85.53/bbl, down 3 cents/bbl. January BRENT: $107.64/bbl, up 31 cents/bbl
ICE Brent crude oil futures edged higher on Tuesday finding support from Saudi Arabia which reported it reduced crude oil production to 9.50m bbl/day in November.
NAPHTHA: $926-928/tonne, down $11/tonne
Both a weaker crack spread and lower crude values contributed to a reduced naphtha assessment. January swaps were assessed at $914-916tonne.
BENZENE: $1,450-1,465/tonne, down $5-10/tonne
December offers edged down in line with crude this afternoon amid eurozone concerns and slower derivative demand. January was valued at $1,470-1,480/tonne.
STYRENE: $1,570-1,580/tonne, offer down $20/tonne
Offers came down this afternoon amid bearish demand conditions ahead of the holiday period. December was offered at $1,580/tonne while January remained in contango at $1,585-1,605/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.
MTBE: $1,110-1,111/tonne, unchanged
No deals were recorded in a quiet market devoid of bids and offers. EuroBob gasoline traded in the range $934-936/tonne.
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