EVENING SNAPSHOT – Europe Markets Summary

05 February 2013 17:13  [Source: ICIS news]

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

CRUDE: March WTI: $96.65/bbl, up 48 cents/bbl. March BRENT: $116.75/bbl, up $1.15/bbl
Shrugging off Monday’s downward correction, both benchmark grades resumed the 2013 bull run in tandem with global stock markets on the back of better US and eurozone economic data.

NAPHTHA: $962-977/tonne, down $5/tonne on low end, up $7/tonne on high end
The cargo range widened with three trades taking place this afternoon. March swaps were assessed at $949-950/tonne.

BENZENE: $1,405-1,420/tonne, down $5/tonne on the sell side
Offers edged down this afternoon in a quiet market, with March valued flat with February.

STYRENE: $1,715-1,735/tonne, narrowing
February bids and offers narrowed while March was valued at $1,730-1,740/tonne. There was an unconfirmed deal for March at $1,735/tonne.

TOLUENE: $1,270-1,290/tonne, steady
The market was quiet and the spot range for February 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, unchanged
No deals, bids or offers were reported in the MTBE market and prices were assessed unchanged. Eurobob gasoline traded at $1,062-1,074/tonne FOB AR.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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