04 February 2013 17:12 [Source: ICIS news]
LONDON (ICIS)--Here is Monday’s end of day European oil and chemical market summary from ICIS.
CRUDE: March WTI: $96.65/bbl, down $1.12/bbl. March BRENT: $115.95/bbl, down 81 cents/bbl
Crude bounced back from earlier lows but remained mired in negative territory as the euro lost ground to the US dollar on the back of disappointing economic data from Spain and Italy.
NAPHTHA: $966-969/tonne, down $7-8/tonne
The cargo range lost ground from earlier in the day as a result of a weaker crack spread. There were two trades this afternoon. March swaps were assessed at $945-947/tonne.
BENZENE: $1,420-1,440/tonne, up $5-10/tonne
The market continued to gain ground this afternoon. March was flat with February.
STYRENE: $1,720-1,750/tonne, down $5-10/tonne
February was quiet this afternoon and the range came down slightly. March traded at $1,755/tonne and the range closed at $1,750-1,760/tonne.
TOLUENE: $1,270-1,290/tonne, steady
The market was quiet and the spot range for February was unchanged. With no significant demand for material outside contracted volumes, buyers have argued that domestic spot pricing needed to move in line with global market in order to make export business viable.
MTBE: $1,235-1,240/tonne, down $29-34/tonne
After a quiet two weeks, the market resumed activity with four trades, albeit at a substantially lower level. EuroBob gasoline traded at $1,062/tonne, putting the MTBE factor against cash barges at 1.16, down two points.
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