EVENING SNAPSHOT – Europe Markets Summary

17 January 2013 17:07  [Source: ICIS news]

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

CRUDE: February WTI: $95.21/bbl, up 97 cents/bbl. March BRENT: $110.10/bbl, up 42 cents/bbl
Crude oil futures remained in positive territory supported by concerns over the militant attack on an Algerian gas facility, falling US crude stocks and also a successful Spanish bond auction.

NAPHTHA: $905-907/tonne, down $4/tonne
The cargo range edged down from earlier in the day, with one trade taking place this afternoon. February swaps were assessed at $910-912/tonne.

BENZENE: $1,440-1,455/tonne, up $5-15/tonne
Bids for January and February moved up this afternoon, supported by crude gains and a strong US market. January traded at $1,450/tonne, February traded several times at $1,445/tonne while March traded at $1,430/tonne and $1,440/tonne, before the range edged back slightly.

STYRENE: $1,690-1,705/tonne, up $5-20/tonne
There was a January deal heard at $1,700/tonne and the range moved up to reflect this. February was firmer at $1,710-1,730/tonne while March was offered higher at $1,735/tonne before a deal was done at $1,730/tonne.

TOLUENE: $1,300-1,320/tonne, steady
The market was quiet amid a balanced supply/demand dynamic and the range for January was unchanged. While some spot activity had taken place earlier in the month for export purposes, lower global prices have now effectively closed the arbitrage window.

MTBE: $1,199/tonne, down $22/tonne
Prices decreased with one afternoon deal. EuroBob gasoline traded at $966/tonne, putting the MTBE factor against cash barges at 1.24.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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