EVENING SNAPSHOT – Europe Markets Summary

15 February 2013 17:06  [Source: ICIS news]

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

CRUDE: March WTI: $95.60/bbl, down $1.71/bbl. April BRENT: $116.80/bbl, down $1.20/bbl
Prices fell sharply when disappointing US industrial output data encouraged a bout of profit-taking ahead of the Presidents Day holiday weekend.

NAPHTHA: $1,007-1,009/tonne, down $4/tonne
The cargo range softened slightly from earlier in the day on the back of lower crude oil values. There was one trade this afternoon. March swaps were assessed at $988-989/tonne.

BENZENE: $1,380-1,395/tonne, up $5/tonne on buy side
Bids for February edged up $1,380/tonne this afternoon, supported by a brief upturn towards the end of the day in Asia. Meanwhile, March was also firmer at $1,385-1,400/tonne, and a deal was done at $1,390/tonne.

STYRENE: $1,700-1,730/tonne, down $5-10/tonne
February offers were lower at $1,730/tonne, while the firm contango for March held, with a range of $1,740-1,760/tonne heard.

TOLUENE: $1,260-1,270/tonne, steady
The market was quiet and the spot range was steady. With no significant demand for material outside contracted volumes, buyers in Europe have argued that domestic spot pricing needed to move in line with the Asian market in order to make export business viable.

MTBE: $1,307-1,308/tonne, stable
The range is assessed stable, with no trades taking place during the afternoon window. EuroBob gasoline traded at $1,094-1,100/tonne FOB AR.

For more pricing intelligence visit ICIS pricing
By: Staff Reporter
+44 20 8652 3214

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