06 March 2013 17:05 [Source: ICIS news]
LONDON (ICIS)--Here is Wednesday’s end of day European oil and chemical market summary from ICIS.
CRUDE: April WTI: $89.68/bbl, down $1.14/bbl. April BRENT: $110.55/bbl, down $1.06/bbl
Crude oil futures extended losses after the US Energy Information Administration released its weekly stock report showing a much larger-than-expected build in US crude oil stocks.
NAPHTHA: $927-929/tonne, up $1/tonne
The cargo range edged up from earlier in the day, with one trade this afternoon. April swaps were assessed at $897-899/tonne.
BENZENE: $1,335-1,350/tonne, down $10/tonne on the sell side
March offers came down to $1,350/tonne this afternoon amid some bearishness for oil and energy. The market was quiet, however, with players en route to the European Petrochemical Luncheon (EPL). April was valued at $1,340-1,360/tonne.
STYRENE: $1,650-1,665/tonne, down $20/tonne on the sell side
Lower benzene numbers pulled offers for March down to $1,665/tonne this afternoon. There was an unconfirmed deal at $1,660/tonne. April was in contango at $1,650-1,675/tonne.
TOLUENE: $1,220-1,270/tonne, up $20/tonne on the sell side
The spot market was quiet, with lower bids reported this week although sellers remain unwilling to drop offers significantly below contract price levels in a balanced market. Contracts for March were confirmed at $1,265-1,275/tonne FOB NWE.
MTBE: $1,194/tonne, down $3-7/tonne
Two trades took place this afternoon, at $1,194/tonne FOB AR. Eurobob gasoline traded at $1,011-1,016/tonne, putting the MTBE factor against cash barges at 1.18.
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