EVENING SNAPSHOT – Europe Markets Summary

26 March 2013 17:10  [Source: ICIS news]

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

CRUDE: May WTI: $95.48bbl, up 67 cents/bbl. May BRENT: $108.14/bbl, down 3 cents/bbl
WTI crude oil futures gained late on Tuesday, finding support from positive housing data from the US.

NAPHTHA: $884-886/tonne, down $7/tonne on the low end, down $8/tonne on the high end
The cargo range edged down from earlier in the day on softer crude oil prices. April swaps were assessed at $877-879/tonne.

BENZENE: $1,270-1,280/tonne, down $10-15/tonne
European benzene spot prices eased in afternoon trading. April was valued lower following deals done in a $1,270-1,280/tonne price range. May was in contango at $1,280-1,310/tonne.

STYRENE: $1,645-1,655/tonne, bid up $5/tonne
The European styrene market was quiet, with many normally active participants still attending the AFPM meeting in the US. No public deals were recorded and April and May were valued at $1,645-1,655/tonne.

TOLUENE: $1,220-1,240/tonne, offer down $10/tonne
The European toluene market continues to lack any transparency with spot activity virtually non-existent. Price ideas were mostly notional; however, Europe remains the highest priced region. April toluene was valued at $1,220-1,240/tonne.

MTBE: $1,195-1,198/tonne, down $20-23/tonne
Prices declined with three deals reported in open market trading. EuroBob gasoline traded at $1,044-1,045/tonne FOB AR, putting the MTBE factor against barges at 1.14-1.15.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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