EVENING SNAPSHOT – Europe Markets Summary

19 February 2013 17:10  [Source: ICIS news]

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

CRUDE: March WTI: $95.85/bbl, down 1 cent/bbl from Friday’s pre-holiday settle. April BRENT: $116.90/bbl, down 48 cents/bbl
A firm US dollar kept downward pressure on oil prices.

NAPHTHA: $1,012-1,014/tonne, up $13/tonne.
The cargo range climbed, with one trade taking place this afternoon. March swaps were assessed at $976-979/tonne.

BENZENE: $1,400-1,410/tonne, up $10-20/tonne
Bids for February edged up to $1,400/tonne and a deal was done at that level. Benzene production has been scaled back in anticipation of the styrene turnaround season, beginning next month. March was also firmer at $1,410-1,425/tonne, with a deal done at $1,410/tonne.

STYRENE: $1,720-1,730/tonne, up $10-20/tonne
Bids for February moved up alongside benzene values, closing the gap between the current month and March, which was valued at $1,740-1,760/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 remains stable, with no trades seen during the afternoon window. EuroBob gasoline traded at $1,093-1,098/tonne FOB AR.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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