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.
For more pricing intelligence visit ICIS pricing
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections