EVENING SNAPSHOT – Europe Markets Summary

11 February 2013 17:15  [Source: ICIS news]

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

CRUDE: March WTI: $96.25/bbl, up 53 cents/bbl. March BRENT: $118.35/bbl, down 55 cents/bbl
Reversing the recent trend, Brent was trading in negative territory on concerns over the eurozone economy, whereas the NYMEX was posting gains.

NAPHTHA: $978-1,008/tonne, up $8/tonne on the high side.
Five deals took place during the afternoon, with the cargo range edging up on slightly firmer crude oil values. March swaps were assessed at $961-963/tonne.

BENZENE: $1,420-1,430/tonne, narrowing
The range for February narrowed, with the earlier bullishness tempered by crude losses. March traded at $1,425/tonne, and later moved up to close at $1,425-1,435/tonne.

STYRENE: $1,700-1,730/tonne, down $20/tonne
February softened in a quiet market for the current month amid renewed eurozone concerns and an uncertain outlook for demand. March was remained bullish with offers at $1,775/tonne, although bids edges down from earlier to $1,445/tonne.

TOLUENE: $1,270-1,280/tonne, steady
The market was quiet and the spot range was assessed steady. 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: $1273/tonne, unchanged
No deals were done and prices are assessed unchanged. EuroBob gasoline traded at $1,070.00-1,076.25/tonne.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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