EVENING SNAPSHOT – Europe Markets Summary

08 March 2013 17:11  [Source: ICIS news]

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

CRUDE: April WTI: $91.11/bbl, down 45 cents/bbl. April BRENT: $110.05/bbl, down $1.10/bbl
Crude oil futures extended losses late on Friday pressured by the cut in Chinese crude oil imports in February. Prices were also pressured by the restart of the Brent Pipeline System.

NAPHTHA: $925-927/tonne, up $2/tonne
The cargo range edged up from earlier in the day as a result of a firmer crack spread. There was one trade this afternoon. April swaps were assessed at $892-894/tonne.

BENZENE: $1,265-1,290/tonne, down $10-15/tonne
March continued to fall this afternoon. April traded at $1,295/tonne, and closed at $1,290-1,300/tonne.

STYRENE: $1,600-1,620/tonne, steady
The market bounced back this afternoon, with a deal heard for April at $1,630/tonne. Bids for March were at $1,600/tonne but not met with any offers. March later traded at $1,610/tonne.

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
There were no bids, offers or trades this afternoon, and prices are assessed unchanged. EuroBob gasoline traded at $1,000/tonne.

For more pricing intelligence visit ICIS pricing


By: Staff Reporter
+44 20 8652 3214



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