EVENING SNAPSHOT – Europe Markets Summary

27 December 2012 17:25  [Source: ICIS news]

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

CRUDE: February WTI: $90.46/bbl, down 52 cents/bbl. February BRENT: $110.30/bbl, down 77 cents/bbl
Crude oil futures remained in negative territory pressured by the lack of progress in US budget talks.

NAPHTHA: $960-966/tonne, down $6-10/tonne
The cargo range declined on weakening crude oil values as well as a lower crack spread. Five trades took place this afternoon. January swaps were assessed at $947-948/tonne.

BENZENE: January: $1,530-1,535/tonne, up $5/tonne on low end
The market was quiet this afternoon with most players absent in the holiday period. Benzene trading picked up slightly mid-afternoon. Deals were heard at $1,530-1,535/tonne as the market restocked ahead of upcoming turnarounds. February was offered at $1,535/tonne but no corresponding bids were heard.

STYRENE: January: $1,705-1,730/tonne, stable
Styrene players have been largely absent from the market this afternoon. January bids were heard at $1,705-1,715/tonne while January offers were at $1,725-1,730/tonne. February was offered at $1,745/tonne, but bids stayed lower at $1,705-1,715/tonne. No deals have been confirmed.

TOLUENE: $1,280-1,300/tonne, unchanged
Trading has been thin as most players remained absent from the market due to the holidays.

MTBE: $1,360-1,370 /tonne, up $16-26/tonne
Prices moved higher with four MTBE deals. EuroBob gasoline did not trade.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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