EVENING SNAPSHOT – Europe Markets Summary

31 January 2013 17:05  [Source: ICIS news]

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

CRUDE: March WTI: $97.20/bbl, down 74 cents/bbl. March BRENT: $115.10/bbl, up 20 cents/bbl
The NYMEX languished in negative territory in tandem with weak global stock markets, following disappointing German retail sales data. Brent was trading back up near earlier highs on reports of lower OPEC output.

NAPHTHA: $960-966/tonne, up $2-6/tonne
The cargo range edged up as a result of slightly higher crude oil prices. There were two trades this afternoon. February swaps were assessed at $955-957/tonne

BENZENE: $1,385-1,400/tonne, up $5/tonne on the buy side
February bids edged up in a quiet market. March was valued at $1,385-1,395/tonne, with two deals at $1,390/tonne heard. An initial February European benzene contract was agreed at €1,040/tonne, down €113/tonne from the previous month, one seller and one buyer confirmed this afternoon.

STYRENE: $1,710-1,730/tonne, down $10/tonne on the sell side
Offers for February were at $1,730/tonne in a subdued market. March was in contango at $1,725-1,740/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: $1,254-1,255/tonne, down $7-8/tonne
Prices decreased slightly amid marginally lower gasoline prices. EuroBob gasoline traded at $1,056-1,058/tonne, putting the MTBE factor against cash barges at 1.19, within the previous range.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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