EVENING SNAPSHOT – Europe Markets Summary

02 January 2013 17:06  [Source: ICIS news]

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

CRUDE: Feb WTI: $93.04/bbl, up $1.22/bbl. Feb BRENT: $111.99/bbl, up 88 cents/bbl
Crude oil futures remained in positive territory after the US passed a bill to prevent automatic tax rises and spending cuts.

NAPHTHA: $949-951/tonne, up $13/tonne
The cargo range made gains from earlier in the day, driven by higher crude oil values. There was one trade this afternoon. February swaps were assessed at $931-933/tonne.

BENZENE: $1,515-1,530/tonne, steady
Prices were steady in afternoon trading. February price levels were similar to January levels with any backwardation slowly disappearing.

STYRENE: $1,735-1,745/tonne, up $5-10/tonne
Styrene traded at $1,735/tonne for January. No deals were done for February. Price ideas for that month were similar to January levels.

TOLUENE: $1,280-1,300/tonne, steady
In the absence on any bids or offers the range is unchanged.

MTBE: $1,370/tonne, up $30-46/tonne
Prices increased with one MTBE deal at $1,370/tonne FOB. EuroBob gasoline traded at $976-977/tonne FOB ARA, putting the MTBE factor against cash barges at 1.40

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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