EVENING SNAPSHOT – Europe Markets Summary

03 April 2013 17:14  [Source: ICIS news]

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

CRUDE: May WTI: $95.84/bbl, down $1.35/bbl. May BRENT: $108.76/bbl, down $1.93/bbl
Crude oil futures extended losses late on Wednesday after the US Energy Information Administration released its weekly stock report showing a larger-than-expected build in crude oil stocks.

NAPHTHA: $865-867/tonne, down $20/tonne
The cargo range was assessed down from earlier in the day. There were no trades in today’s open market trading. May swaps were assessed at $855-857/tonne.

BENZENE: $1,250-1,270/tonne, down $5/tonne on the buy side
April was relatively steady this afternoon, while May narrowed slightly to $1,275-1,285/tonne. June traded at $1,290/tonne.

STYRENE: $1,615-1,640/tonne, down $10-15/tonne
Offers for April edged down to $1,640/tonne before two deals were done at $1,625/tonne. May was valued flat at $1,615-1,640/tonne.

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

MTBE: $1,130/tonne, down $56-60/tonne
Prices declined with two deals of $1,130/tonne FOB AR heard during the open market session. EuroBob gasoline traded at $990-996/tonne FOB AR, putting the MTBE factor against barges at 1.13-1.14.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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