EVENING SNAPSHOT – Europe Markets Summary

03 January 2013 17:07  [Source: ICIS news]

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

CRUDE: Feb WTI: $93.00/bbl, down 12 cents/bbl. Feb BRENT: $112.07/bbl, down 40 cents/bbl
Crude oil futures remained in negative territory as investors turned their eyes to the upcoming battles between Democrats and Republican lawmakers regarding the extension of the federal debt ceiling.

NAPHTHA: $948-950/tonne, up $3/tonne
The cargo range edged up, driven by higher crude oil values. February swaps were assessed at $930-932/tonne.

BENZENE: $1,505-1,515/tonne, down $10/tonne
Spot prices eased with crude and physical trading was thin. The only public deal done was at $1,520/tonne for January earlier in the day. Little buying or selling interest was seen for February.

STYRENE: $1,710-1,720/tonne, down $20/tonne
Spot prices moved down with benzene in a quiet market. The only deal recorded was for January at $1,710/tonne. February was pegged higher than January at $1,720-1,730/tonne.

TOLUENE: $1,320-1,350/tonne, up $40-50/tonne
Higher prices in the US and Asia and a tightly balanced market in Europe have resulted in spot toluene being valued in the low-to-mid $1,300s/tonne. A source said that despite there being no liquidity in the market, $1,350/tonne really was a market price. 

MTBE: $1,394/tonne, up $24/tonne
The market continued to firm with a solitary afternoon deal. Meanwhile, EuroBob gasoline did not trade.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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