30 January 2013 17:00 [Source: ICIS news]
LONDON (ICIS)--Here is Wednesday’s end of day European oil and chemical market summary from ICIS.
CRUDE: March WTI: $97.65/bbl, up 8 cents/bbl. March BRENT: $114.70/bbl, up 34 cents/bbl
Gains were eroded when this week’s US stock figures showed an above-forecast build on crude. However, this was countered by larger-than-expected draws on gasoline and distillates, which limited the downside.
NAPHTHA: $960-962/tonne, up $4-8/tonne
The cargo range climbed, with two trades taking place this afternoon. February swaps were assessed at $953-955/tonne
BENZENE: $1,405-1,415/tonne, narrowing
The market continued to edge up, with offers moving as high as $1,425/tonne before the market narrowed to close around the $1,410/tonne level. March was valued at $1,390-1,420/tonne, but offers later edged back down to $1,405/tonne.
STYRENE: $1,730-1,740/tonne, narrowing
February bids and offers gradually narrowed. A deal was later done at $1,730/tonne. March was valued at $1,730-1,750/tonne, and traded at $1,740/tonne.
TOLUENE: $1,280-1,320/tonne, steady
The spot market was quiet, and the range was unchanged. Players described the market as balanced. Buying interest outside of contracted volumes remains scarce, with only a handful of spot deals done early in January so far this year, for export purposes.
MTBE: $1,262/tonne, up $3/tonne
Absolute prices were more or less stable, but higher gasoline numbers meant a softer factor value. EuroBob gasoline traded at $1,056-1,065/tonne, putting the MTBE factor against cash barges at 1.18-1.20, down one point.
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