EVENING SNAPSHOT – Europe Markets Summary

07 March 2013 18:10  [Source: ICIS news]

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

CRUDE: April WTI: $91.32/bbl, up 89 cents/bbl. April BRENT: $111.09/bbl, up 3 cents/bbl
WTI crude oil futures surged late on Thursday finding support from a US jobs report showing new claimants for unemployment benefits fell last week.

NAPHTHA: $925-927/tonne, up $2/tonne
The cargo range edged up from earlier in the day as a result of slightly higher crude oil prices. There were two trades this afternoon. April swaps were assessed at $895-897/tonne.

BENZENE: $1,300-1,320/tonne, down $30-35/tonne
There was an unconfirmed March deal heard at $1,310/tonne and the range was assessed lower. April was valued at $1,330-1,340/tonne following deals reported within those ranges midweek.

STYRENE: $1,620-1,635/tonne, down $30/tonne
The range for March was lower in line with a weaker benzene market. April was valued at $1,630-1,640/tonne. The market was quiet, with players attending the European Petrochemical Luncheon (EPL).

TOLUENE: $1,220-1,270/tonne, steady
The spot market was quiet, with lower bids reported this week although sellers remain unwilling to drop offers significantly below contract price levels amid balanced availability.

MTBE: $1,194/tonne, no change
No trades took place this afternoon and prices are assessed unchanged. EuroBob gasoline traded at $1,012-1,018/tonne.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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