EVENING SNAPSHOT – Europe Markets Summary

22 February 2013 17:09  [Source: ICIS news]

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

CRUDE: April WTI: $92.70/bbl, down 14 cents/bbl. April BRENT: $113.80/bbl, up 27 cents/bbl
Gains posted earlier in the day were wiped out by a firmer US dollar.

NAPHTHA: $974-976/tonne, down $20/tonne
The cargo range lost ground from earlier in the day on the back of lower crude ol prices. One trade took place this afternoon. March swaps were assessed at $955-956/tonne.

BENZENE: $1,365-1,385/tonne, steady
February traded at $1,370/tonne and the range was unchanged, with the market focused on the forward month. March edged down to $1,370-1,395/tonne.

STYRENE: $1,715-1,740/tonne, steady
The market was quiet for both months this afternoon. February bids and offers were unchanged. March narrowed to close at $1,740-1,750/tonne.

TOLUENE: $1,230-1,280/tonne, steady
The spot market was quiet and the range was unchanged. Offers were firm although weaker Asian numbers and a midweek plunge in crude values brought bids down. Several traders are looking for arbitrage opportunities to the US, although high freight costs are keeping any profit margin to a minimum.

MTBE: $1,284-1,285/tonne, down $9/tonne
No trades were reported during the afternoon window, however, the range has been lowered on weaker upstream costs, taking into account the latest factor against gasoline value.

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

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