EVENING SNAPSHOT – Europe Markets Summary

04 March 2013 17:20  [Source: ICIS news]

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

CRUDE: April WTI: $89.71/bbl, down 97 cents/bbl. April BRENT: $109.78/bbl, down 62 cents/bbl
Crude oil futures weakened late on Monday pressured by automatic spending cuts in the US which is likely to hit oil demand. Prices were also pressured by weak economic data from China.

NAPHTHA: $910-912/tonne, down $3/tonne
The cargo range was assessed down by $3/tonne from earlier in the day as a result of lower crude oil prices. April swaps were assessed at $898-900/tonne.

BENZENE: $1,360-1,370/tonne, up $10/tonne on the bid side
Europe benzene spot prices settled down in afternoon trading and deals were done at $1,370-1,380/tonne. April was valued at $1,360-1,375/tonne.

STYRENE: $1,660-1,680/tonne, down $20/tonne on the offer side
Traders described the market as quiet and no further deals were done. April was valued at $1,670-1,690/tonne.

TOLUENE: $1,250-1,280/tonne, steady
The toluene spot range is steady in the absence of any firm bids or offers.

MTBE: $1,197/tonne, unchanged
No trades, bids or offers were reported this afternoon, and the range was left unchanged. Eurobob gasoline traded at $989-1,006/tonne.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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