EVENING SNAPSHOT – Europe Markets Summary

25 January 2013 17:03  [Source: ICIS news]

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

CRUDE: March WTI: $95.85/bbl, down 10 cents/bbl. March BRENT: $113.37/bbl, up 9 cents/bbl
WTI crude oil futures reversed gains late on Friday to trade in negative territory as traders took profits after a week of strong gains in the market.

NAPHTHA: $946-948/tonne, up $3/tonne
The cargo range edged up from earlier in the day as the effects of a stronger crack spread overrode those of higher crude oil prices. There was one trade this afternoon. February swaps were assessed at $941-942/tonne

BENZENE: $1,405-1,415/tonne, down $5-15/tonne
February values continued to drop this afternoon, with deals done at $1,440/tonne, $1,430/tonne and $1,420/tonne before closing lower. January was quiet and valued flat at $1,405-1,415/tonne with the forward month.

STYRENE: $1,670-1,700/tonne, down $10/tonne
February bids moved as low as $1,650/tonne before settling slightly higher, with bearish benzene figures weighing down on the market. January was quiet and valued flat with February throughout the day.

TOLUENE: $1,280-1,320/tonne, steady
Offers were seen at $1,320/tonne but were not taken up by any consumers. As prices in Asia have weakened 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 quiet trend for the week continued, with no deals heard. EuroBob gasoline traded at $1,021-1,023/tonne.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
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