EVENING SNAPSHOT – Europe Markets Summary

28 December 2012 17:08  [Source: ICIS news]

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

CRUDE: February WTI: $91.00/bbl, up 13 cents/bbl. February BRENT: $110.63/bbl, down 17 cents/bbl
Crude oil futures weakened late on Friday after the US Energy Information Administration (EIA) issued its weekly stock report showing a larger than expected drop in gasoline stocks in the week ending 21 December.

NAPHTHA: $947-949/tonne, down $18-22/tonne
The cargo range tumbled on softer crude oil values and a weaker crack spread. Six trades took place this afternoon. January swaps were assessed at $931-933/tonne.

BENZENE: $1,515-1,530/tonne, steady
Bar news that the January benzene contract price settled at €1,153/tonne, up €69/tonne from the previous month, the market was very quiet and spot price assessments were steady for January. February was backwardated at $1,480-1,520/tonne.

STYRENE: $1,720-1,740/tonne, up $15-20/tonne
European styrene spot prices edged up in afternoon trading, but no public deals were confirmed. January was pegged at $1,720-1,740/tonne. February and March spot styrene was quoted at a similar level.

TOLUENE: $1,280-1,300/tonne, steady
In the absence of any spot activity or price ideas, the January range is steady

MTBE: $1,353/tonne, down $7-17/tonne
Prices softened with one afternoon MTBE deal. EuroBob gasoline did not trade.

For more pricing intelligence visit ICIS pricing


By: Staff Reporter
+44 20 8652 3214



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