04 January 2013 17:25 [Source: ICIS news]
LONDON (ICIS)--Here is Friday’s end of day European oil and chemical market summary from ICIS.
CRUDE: February WTI: $92.39/bbl, down 53 cents/bbl. February BRENT: $110.93/bbl, down $1.21/bbl
Crude oil futures remained in negative territory late on Friday, pressured by the US Federal Reserve which indicated it may tighten monetary policy in 2013.
NAPHTHA: $932-934/tonne, down $2/tonne
The cargo range edged down as the effects of a weaker crack spread overrode those of higher crude oil values. There were four trades this afternoon. February swaps were assessed at $918-920/tonne.
BENZENE: $1,480-1,495/tonne, up $5-10/tonne
Spot prices moved up following the lowest deal of the day at $1,475/tonne. February was pegged at $1,475-1,480/tonne.
STYRENE: $1,700-1,715/tonne, up $15-25/tonne
A deal was done at $1,685/tonne for January and $1,700/tonne for February. Ahead of business close, February styrene was in contango at $1,720-1,730/tonne.
TOLUENE: $1,300-1,350/tonne, range widens
Sources in the market are in disagreement about the January spot range. Buyers and some traders put spot toluene at either side of $1,300/tonne, while producers say a market price is $1,350/tonne. The range has been widened to reflect market sentiment despite there being such limited transparency.
MTBE: $1,388/tonne, down $6/tonne
Although prices slipped slightly the market remains extremely firm under the influence of demand from Venezuela. EuroBob gasoline traded at $967/tonne, putting the MTBE factor against cash barges at 1.44.
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