EVENING SNAPSHOT – Europe Markets Summary

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

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

CRUDE: March WTI: $96.25/bbl, up 42 cents/bbl. March BRENT: $118.90/bbl, up $1.66/bbl
Middle East tensions and supportive Chinese trade data kept crude prices firm with Brent holding around 9-month highs.

NAPHTHA: $983-1,005/tonne, up $2-4/tonne.
Four cargoes traded at just above the previous range. March swaps were assessed at $967-969/tonne.

BENZENE: $1,410-1,430/tonne, steady
The market was steady in line with flat US prices, nd the ranges for both February and March were unchanged.

STYRENE: $1,720-1,740/tonne, steady
The market was quiet and the ranges for both months were unchanged.

TOLUENE: $1,270-1,280/tonne, steady
There was a spot deal this week for February loading at $1,275/tonne, and the range was adjusted to reflect this. The market was otherwise quiet, and with no significant demand for material outside contracted volumes, buyers have argued that domestic spot pricing needed to move in line with the Asian market in order to make export business viable.

MTBE: $1,273/tonne, up $5-28/tonne
One trade was done just north of the previous bid/offer range. EuroBob gasoline traded at $1,081-1,085/tonne, putting the MTBE factor against cash barges at 1.17-1.18.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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