EVENING SNAPSHOT – Europe Markets Summary

23 January 2013 17:06  [Source: ICIS news]

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

CRUDE: March WTI: $96.45/bbl, down 23 cents/bbl. March BRENT: $112.53/bbl, up 11 cents/bbl
WTI crude oil futures weakened late on Wednesday on expectations that US crude oil stocks increased last week. The weekly US stocks report will be published a day later on Thursday.

NAPHTHA: $945-948/tonne, up $2-4/tonne
The cargo range edged up from Wednesday morning as a result of higher crude oil prices. There were four trades this afternoon. February swaps were assessed at $943-945/tonne.

BENZENE: $1,450-1,470/tonne, down $15/tonne
January price discussions focused around the $1,460/tonne mark this afternoon. February was valued at $1,450-1,460/tonne, with offers for the first half higher at $1,470/tonne.

STYRENE: $1,670-1,700/tonne, down $10/tonne
Softer benzene numbers brought January styrene prices down, with bids as low as $1,650/tonne before the market recovered slightly. February bids edged up to $1,710/tonne and a deal was later done at $1,720/tonne. The market closed wider at $1,700-1,725/tonne.

TOLUENE: $1,300-1,320/tonne, steady
The spot market was quiet and the range for January was unchanged. Players agree that supply levels remain balanced, with no length emerging despite subdued purchasing activity.

MTBE: $1,240/tonne, unchanged
The market was devoid of deals, bids or offers. EuroBob gasoline traded at $1,006-1,015/tonne.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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