EVENING SNAPSHOT – Europe Markets Summary

02 April 2013 17:17  [Source: ICIS news]

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

CRUDE: May WTI: $96.42/bbl, down 65 cents/bbl. May BRENT: $110.65/bbl, down 43 cents/bbl
Crude oil futures weakened late on Tuesday pressured by rising unemployment levels in Europe.

NAPHTHA: $887-889/tonne, down $10-$12/tonne
The cargo range edged down from earlier in the day. There was one cargo sold during today’s open market trading. May swaps were assessed at $877-879/tonne.

BENZENE: $1,240-1,250/tonne, narrowing
The range for April narrowed this afternoon. Bids for May moved as high as $1,265/tonne but there were still no offers.

STYRENE: $1,615-1,640/tonne, up $10-15/tonne
The range for April steadily edged up this afternoon, although no business was confirmed. May moved into contango, with a range $1,620-1,660/tonne heard.

TOLUENE: $1,170-1,200/tonne, steady
The market was quiet and the spot range was unchanged. An initial April contract was agreed at $1,175/tonne FOB NWE, down $90-100/tonne from the previous month amid global bearishness.

MTBE: $1,186-1,190/tonne, down $6/tonne
No deals took place but prices have been assessed down with lower offers heard during the open market session. EuroBob gasoline traded at $1,031/tonne FOB AR.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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