EVENING SNAPSHOT – Europe Markets Summary
14 February 2013 17:32 [Source: ICIS news]LONDON (ICIS)--Here is Thursday’s end of day European oil and chemical market summary from ICIS.
CRUDE: March WTI: $97.40/bbl, up 39 cents/bbl. April BRENT: $117.85/bbl, down 3 cents/bbl
Crude recouped some ground lost on the back of disappointing eurozone GDP data for the fourth quarter of 2012.
NAPHTHA: $1,004-1,006/tonne, up $2-5/tonne
The cargo range climbed from earlier in the day, driven by a stronger crack spread. One trade took place. March swaps were assessed at $988-991/tonne.
BENZENE: $1,390-1,400/tonne, down $5-10/tonne
February traded twice at $1,395/tonne and again at $1,400/tonne, and the range came down with bids heard at $1,390/tonne. March traded at $1,405/tonne and $1,408/tonne.
STYRENE: $1,700-1,710/tonne, down $10/tonne on the sell side
February traded at $1,710/tonne and offers came down to this level. March offers also came down to $1,745/tonne, and the range was valued at $1,730-1,745/tonne.
TOLUENE: $1,260-1,270/tonne, down $10/tonne
The market was quiet and the spot range was assessed lower in line with falling Asian numbers, where buying interest was scant following the Lunar New Year period. With no significant demand for material outside contracted volumes, buyers in Europe have argued that domestic spot pricing needs to move in line with the Asian market in order to make export business viable.
MTBE: $1,307-1,308/tonne, up $33-34/tonne
Prices increased with two trades taking place during the afternoon window. EuroBob gasoline traded at $1,092-1,097/tonne FOB AR.
For more pricing intelligence visit ICIS pricing By: Staff Reporter+44 20 8652 3214
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