13 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: $86.70/bbl, down 7 cents/bbl. January BRENT: $108.85/bbl, down 65 cents/bbl
Crude recouped some earlier losses but remained weak on the back of concerns over the lack of progress on the US budget.
NAPHTHA: $927-929/tonne, up $5/tonne
The cargo range climbed from earlier in the day, with four trades taking place this afternoon. January swaps were assessed at $909-911tonne.
BENZENE: $1,470-1,485/tonne, steady
There were no firm buy/sell indications heard in the market, with some players expecting further downward movement ahead of the holiday season. January was valued at $1,480-1,500/tonne.
STYRENE: $1,560-1,590/tonne, steady
December traded at $1,575/tonne, within the current range. January was in contango at $1,605-1,635/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: $1,139-1,140/tonne, up $29/tonne
No deals were done but prices were assessed higher on bids heard. EuroBob gasoline traded at $937-945/tonne.
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