EVENING SNAPSHOT – Europe Markets Summary

16 January 2013 17:02  [Source: ICIS news]

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

CRUDE: February WTI: $94.24/bbl, up 96 cents/bbl. February BRENT: $110.55/bbl, up 25 cents/bbl
Crude oil futures extended gains late on Wednesday, finding support from an unexpected drop in US crude inventories.

NAPHTHA: $901-903/tonne, up $5/tonne
The cargo range climbed, with one trade taking place this afternoon. February swaps were assessed at $900-902/tonne.

BENZENE: $1,400-1,420/tonne, up $20-25/tonne
The market continued to gain ground, supported by crude futures and higher numbers in the US. No deals were reported, however. February remained flat with January.

STYRENE: $1,665-1,685/tonne, up $5/tonne on the sell side
Offers for January edged up to $1,685/tonne in line with benzene in an otherwise quiet market. February traded at $1,680/tonne and $1,690/tonne and the bid/offer range closed at $1,680-1,690/tonne. Bids for March were heard at $1,700/tone but not met with any offers, before a deal was done at that level.

TOLUENE: $1,300-1,320/tonne, steady
The market was quiet amid a balanced supply/demand dynamic and the range for January was unchanged.

MTBE: $1,221/tonne, unchanged.
No deals were done and the price is assessed stable. EuroBob gasoline traded at $964/tonne.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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