EVENING SNAPSHOT – Europe Markets Summary

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

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

CRUDE: March WTI: $96.28/bbl, up $1.05/bbl. March BRENT: $113.33/bbl, up 53 cents/bbl
Crude oil futures gained late on Thursday supported by US jobs report, which showed unemployment benefit claims falling to 5-year lows.

NAPHTHA: $943-945/tonne, up $4-5/tonne
The cargo range climbed from earlier in the day as the effects of higher crude oil prices overrode those of a weaker crack spread. There were two trades this afternoon. February swaps were assessed at $943-945/tonne.

BENZENE: $1,430-1,460/tonne, down $15-20/tonne
Both January and February traded at $1,445/tonne this afternoon. Both months were valued at $1,430-1,460/tonne, coming down amid further weakening in the US market.

STYRENE: $1,680-1,710/tonne, steady
January was quiet and the range was unchanged from earlier, with attention now focused on the forward month. February was valued at $1,700-1,735/tonne.

TOLUENE: $1,280-1,320/tonne, down $20/tonne on the buy side
Offers were seen at $1,320/tonne this week but were not taken up by any consumers. As prices in Asia have slipped down to the low $1,300s/tonne alongside poor Chinese demand and numbers in the US are even lower, buyers are now below the $1,300/tonne level.

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

For more pricing intelligence visit ICIS pricing


By: Staff Reporter
+44 20 8652 3214



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