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.
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