EVENING SNAPSHOT – Europe Markets Summary

05 March 2013 17:19  [Source: ICIS news]

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

CRUDE: April WTI: $90.24/bbl, up 12 cents/bbl. April BRENT: $110.69/bbl, up 60 cents/bbl
Crude oil futures remained in positive territory late on Tuesday supported by China’s plans to implement new fiscal policies to support economic growth. Prices were also supported after Shell declared force majeure on its Bonny Light exports from Nigeria.

NAPHTHA: $912-914/tonne, up $4/tonne
The cargo range was assessed up from earlier in the day as a result of a slightly firmer crack spread. April swaps were assessed at $900-902/tonne.

BENZENE: $1,325-1,340/tonne, down $5-10/tonne
Spot prices moved down again in afternoon trading on softer demand and improved availability. April benzene was valued at $1,330-1,350/tonne.

STYRENE: $1,640-1,660/tonne, steady
The market was quiet in afternoon trading and price ideas were broadly unchanged. An April deal was recorded at $1,652/tonne.

TOLUENE: $1,220-1,250/tonne, down $30/tonne
Toluene spot prices ease on the back of weaker sentiment in the US and Asia. European toluene was bid at $1,220/tonne, but there were no firm offers.

MTBE: $1,197-1,201/tonne, up $4/tonne on the high side
One offer was reported at $1,201/tonne. As the last trade was on Monday at $1,197/tonne, today’s range has been assessed at $1,197-1,201/tonne. Eurobob gasoline traded at $1,004-1,005/tonne.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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