26 February 2013 17:09 [Source: ICIS news]
LONDON (ICIS)--Here is Tuesday’s end of day European oil and chemical market summary from ICIS.
CRUDE: April WTI: $92.52/bbl, down 59 cents/bbl. April BRENT: $113.12/bbl, down $1.32/bbl
Crude oil futures remained in negative territory late on Tuesday pressured by political uncertainty in Italy and the wider implications to the rest of the world.
NAPHTHA: $987-989/tonne, up $5/tonne
The cargo range climbed from earlier in the day, with one trade taking place this afternoon. March swaps were assessed at $954-955/tonne.
BENZENE: $1,375-1,385/tonne, up $5/tonne on the buy side
Deals for March were done at $1,375/tonne and $1,380/tonne, while April remained in contango with a deal done at $1,385/tonne.
STYRENE: $1,720-1,730/tonne, down $10-20/tonne
March offers were lower this afternoon at $1,730/tonne. There were some bids at $1,720/tonne, and sources expect the market to soften further. April was valued at $1,730-1,750/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 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: $1,255/tonne, down $31/tonne
One trade was reported at $1,255/tonne. Eurobob gasoline traded at 1,051-1,055/tonne, putting the MTBE factor against cash barges at 1.19.
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