04 April 2013 17:17 [Source: ICIS news]
LONDON (ICIS)--Here is Thursday’s end of day European oil and chemical market summary from ICIS.
CRUDE: May WTI: $92.74/bbl, down $1.71/bbl. May BRENT: $105.84/bbl, down $1.27/bbl
Crude oil futures weakened late on Thursday pressured by rising new claims for unemployment benefits in the US. Prices were also put under pressure by news that the US Federal Reserve may begin to taper its third round of quantitative easing.
NAPHTHA: $843-845/tonne, down $12-13/tonne
The cargo range edged down from earlier in the day on trades at today’s open market trading. May swaps were assessed at $836-838/tonne.
BENZENE: $1,245-1,260/tonne, narrowing
April offers came down to $1,260/tonne while bids edged upward. The contango into May widened, with offers moving as high as $1,285/tonne before settling around the $1,270/tonne mark.
STYRENE: $1,605-1,630/tonne, up $5/tonne on the buy side
Bids for April moved up to $1,605/tonne this afternoon. May was initially flat with April at $1,605-1,630/tonne, but later came down to close at $1,600-1,625/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: $1,110/tonne, down $20/tonne
Prices declined with one deal of $1,110/tonne FOB AR heard during the open market session. EuroBob gasoline traded at $962-976/tonne FOB AR, putting the MTBE factor against barges at 1.14-1.15.
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