EVENING SNAPSHOT – Europe Markets Summary

18 March 2013 17:22  [Source: ICIS news]

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

CRUDE: April WTI: $93.29/bbl, down 16 cents/bbl. May BRENT: $109.14/bbl, down 68 cents/bbl
Crude oil futures weakened, pressured by concerns over the Cyprus bailout plan which has led to public anger and heavy cash withdrawals.

NAPHTHA: $897-899/tonne, up $1/tonne on the low end, down $9/tonne on the high end
The cargo range narrowed on higher crude oil prices and a softer crack spread. April swaps were assessed at $885-888/tonne.

BENZENE: $1,250-1,265/tonne, up $5-10/tonne
The market edged back up this afternoon. April remained in contango at $1,245-1,270/tonne.

STYRENE: $1,630-1,645/tonne, up $20/tonne on the buy side
Bids for March edged up this afternoon, while April was also firmer at $1,640-1,660/tonne.

TOLUENE: $1,230-1,270/tonne, steady
The market remained quiet as buyers looked towards the US and Asian markets for a sense of direction. Spot activity is muted, however, with no clear arbitrage opportunities into the US market and continued bearishness in Asia.

MTBE: $1,236/tonne, up $33-36/tonne
Prices increased with one trade during the trading window. EuroBob gasoline traded at $962/tonne, putting the MTBE factor against barges at 1.28.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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