EVENING SNAPSHOT – Europe Markets Summary

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

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

CRUDE: April WTI: $93.40/bbl, down $1.82/bbl. April BRENT: $114.10/bbl, down $1.50/bbl
Crude oil recouped a little of the earlier losses, when this week’s US stock figures from the Energy Information Administration (EIA) showed much larger draws on both gasoline and distillates than forecast, although these were countered by a larger-than-expected build on crude.

NAPHTHA: $994-996/tonne, up $2/tonne
The cargo range edged up from earlier in the day as the effects of a stronger crack spread overrode those of lower crude oil values. There was one trade this afternoon. March swaps were assessed at $955-957/tonne.

BENZENE: $1,380-1,390/tonne, narrowing
The range for the current month narrowed this afternoon. A roll deal from February into March was done at plus $20/tonne. March was valued at $1,385-1,395/tonne.

STYRENE: $1,725-1,740/tonne, steady
February bids and offers remained stuck at the same range throughout the day in a subdued market. March closed at $1,730-1,740/tonne.

TOLUENE: $1,230-1,280/tonne, widening
Offers for February material were heard at $1,280/tonne, but buyers had revised price ideas lower in line with falling oil futures and lower Asian numbers earlier this week.

MTBE: $1,293-1,294/tonne, down $14/tonne
No trades took place during the afternoon window, despite an offer heard lower than the previously traded price. The range has been assessed lower as a result.

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

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