EVENING SNAPSHOT – Europe Markets Summary

18 February 2013 17:04  [Source: ICIS news]

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

CRUDE: March WTI: $95.40/bbl, down 46 cents/bbl. April BRENT: $117.15bbl, down 51 cents/bbl
Despite a fairly thin market due to the US holiday, a firmer US dollar took crude prices lower.

NAPHTHA: $1,007-1,009/tonne, unchanged
The cargo range was again assessed stable as weaker crude was balanced out by a firmer crack spread. March swaps were assessed at $988-989/tonne.

BENZENE: $1,375-1,395/tonne, down $5-10/tonne
The market edged down amid subdued activity. February traded at $1,385/tonne this afternoon, but this was so far unconfirmed. March was valued at $1,385-1,400/tonne.

STYRENE: $1,705-1,730/tonne, up $5/tonne on the buy side
Bids for February edged up but buyers and sellers were still far apart in a quiet market for prompt cargo. March was valued at $1,740-1,750/tonne.

TOLUENE: $1,260-1,270/tonne, steady
The market was quiet and the spot range was unchanged. 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 seen during the afternoon window. EuroBob gasoline traded at $1,102-1,105/tonne FOB AR.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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