EVENING SNAPSHOT – Europe Markets Summary

28 January 2013 17:01  [Source: ICIS news]

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

CRUDE: March WTI: $96.00/bbl, up 12 cents/bbl. March BRENT: $113.15/bbl, down 13 cents/bbl
Earlier gains were wiped out in tandem with weaker stock markets, however, reports of a terrorist attack on an Algerian pipeline limited the losses.

NAPHTHA: $946-947/tonne, up $1/tonne on low side
The cargo range changed little from earlier in the day, with the crack spread and crude oil prices holding relatively stable. There were three trades this afternoon. February swaps were assessed at $942-944/tonne.

BENZENE: $1,390-1,405/tonne, up $10/tonne on the buy side
Buyers stepped into the market, pushing price ideas up this afternoon. The market later edged back down, however. February traded at $1,410/tonne. March was valued at $1,395-1,415/tonne, and later closed flat with February.

STYRENE: $1,720-1,740/tonne,  up $10/tonne on the buy side
February traded at $1,718/tonne as the market moved up and there was an unconfirmed deal at $1,735/tonne. March traded twice at $1,730/tonne.

TOLUENE: $1,280-1,320/tonne, steady
The spot market was quiet and the range was unchanged. Players describe the market as balanced, with no significant pull on volumes but also no real overhang in availability.

MTBE: $1,240/tonne, unchanged.
Only offers were seen, at $1,255/tonne, and the price was assessed unchanged. EuroBob gasoline traded at $1,044-1,048/tonne.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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