EVENING SNAPSHOT – Europe Markets Summary

11 January 2013 17:01  [Source: ICIS news]

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

CRUDE: February WTI: $93.15/bbl, down 67 cents/bbl. February BRENT: $110.09/bbl, down $1.80/bbl
Crude oil futures extended losses late on Friday pressured by growing concerns over falling demand and prices were also pressured by high levels of inflation in China.

NAPHTHA: $887-889/tonne, down $19-25/tonne
The cargo range suffered losses on the back of a much weaker crack spread and softer crude oil prices. There was one trade this afternoon. February swaps were assessed at $889-890/tonne.

BENZENE: $1,370-1,390/tonne, down $10/tonne on the sell side
January offers edged down to $1,390/tonne this afternoon. Deals were done at $1,370/tonne and $1,375/tonne. February was valued at $1,380-1,390/tonne.

STYRENE: $1,620-1,640/tonne, down $20/tonne
The market continued to slide this afternoon in line with upstream losses and poor derivative demand. February was in contango with offers at $1,665/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: $1,220-1,230/tonne, up $71-80/tonne
Prices recovered some of the ground lost over the past few days with two deals in the range above. EuroBob gasoline traded at $964-966/tonne, putting the MTBE factor against cash barges at 1.27.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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