EVENING SNAPSHOT – Europe Markets Summary

10 January 2013 17:15  [Source: ICIS news]

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

CRUDE: February WTI: $93.97/bbl, up 87 cents/bbl. February BRENT: $112.41/bbl, up 65 cents/bbl
Crude oil futures remained positive supported by better than expected import and export data from China and the cut in Saudi Arabia crude oil production.

NAPHTHA: $922-930/tonne, down $10-17/tonne
The cargo range lost ground as a result of lower crude oil prices and a weaker crack spread. There were eight trades this afternoon. February swaps were assessed at $927-929/tonne.

BENZENE: $1,400-1,420/tonne, up $30-35/tonne
Prices continued to edge up on firmer crude numbers and renewed positive sentiment. January later traded at $1,415/tonne. February was offered at $1,400/tonne, and a deal was done at that level. Bids moved up to $1,400/tonne and a deal was later heard at $1,420/tonne.

STYRENE: $1,650-1,680/tonne, up $20-30/tonne
January continued to move up, supported by stronger benzene and crude values. February bids were also higher at $1,660/tonne, and the range later moved up to close at $1,685-1,700/tonne.

TOLUENE: $1,310-1,330/tonne, steady
The market was quiet and the range was steady, with slow demand and illiquidity counterbalanced by firmer crude and energy numbers.

MTBE: $1,149-1,150/tonne, down $66-75/tonne
There were no MTBE trades during open market trading, with only an offer seen at $1,150/tonne FOB AR. EuroBob gasoline traded at $987/tonne FOB AR. 

For more pricing intelligence visit ICIS pricing


By: Staff Reporter
+44 20 8652 3214



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