EVENING SNAPSHOT – Europe Markets Summary

15 January 2013 17:00  [Source: ICIS news]

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

CRUDE: February WTI: $93.91/bbl, down 23 cents/bbl. February BRENT: $111.48/bbl, down 40 cents/bbl
Crude oil futures remained in negative territory late on Tuesday pressured by increased production of benchmark-setting North Sea Forties crude oil. Prices were also pressured by weaker US stock markets.

NAPHTHA: $903-905/tonne, down $12/tonne
The cargo range lost ground from earlier in the day as a result of lower crude oil prices and a weaker crack spread. There was one trade this afternoon. February swaps were assessed at $909-910/tonne.

BENZENE: $1,375-1,385/tonne, down $10/tonne on the sell side
The market lost ground at the top end this afternoon with some aggressive selling bringing offers down, although a firm US market continues to act as a floor for Europe. January traded at $1,375/tonne and $1,380/tonne. February was slightly firmer, trading at $1,390/tonne, and the range was valued at $1,380-1,390/tonne.

STYRENE: $1,645-1,680/tonne, down $10-15/tonne
January traded at $1,680/tonne, before lower benzene numbers helped push bids and offers down. February was also valued lower at $1,650-1,680/tonne.

TOLUENE: $1,300-1,320/tonne, down $10/tonne
The market was quiet amid balanced supply and the range for January was assessed lower.

MTBE: $1,221/tonne, up $19/tonne
The price of MTBE recovered the ground lost on Monday with one afternoon trade. EuroBob gasoline traded at $964-967/tonne, putting the MTBE factor against cash barges at 1.26-1.27, up two to three points.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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