EVENING SNAPSHOT – Europe Markets Summary

09 January 2013 17:12  [Source: ICIS news]

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

CRUDE: February WTI: $93.08/bbl, down 7 cents/bbl. February BRENT: $111.60/bbl, down 34 cents/bbl
Crude oil futures remained in negative territory late on Wednesday pressured by a larger-than-expected build in US gasoline and distillate stocks.

NAPHTHA: $932-933/tonne, down $4-5/tonne
The cargo range slipped as a result of a softer crack spread. There were four trades this afternoon. February swaps were assessed at $930-931/tonne.

BENZENE: $1,350-1,395/tonne, up $5/tonne on the sell side
Offers for January edged back up to $1,395/tonne this afternoon. February also showed some signs of recovery, with a range of $1,360-1,400/tonne talked.

STYRENE: $1,600-1,610/tonne, down $20-30/tonne
The market continued on a downward slide this afternoon. January traded at $1,605/tonne and the bid/offer range was assessed lower to reflect this. February was still valued a wide range of $1,590-1,640/tonne.

TOLUENE: $1,310-1,330/tonne, narrowing
The January bid/offer range narrowed, following several reported spot deals earlier this week at $1,320/tonne. The parcels were said to have been for export to both India and the Middle East, while one seller added that the distribution market had also seen some demand this month.

MTBE: $1,215-1,225/tonne, down $95-105/tonne
Prices fell considerably with three deals. Traders were uncertain of the cause. EuroBob gasoline traded at $979-981/tonne, putting the MTBE factor against cash barges at 1.24-1.25, compared with 1.44 on 4 January.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
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