EVENING SNAPSHOT – Europe Markets Summary

08 April 2013 17:22  [Source: ICIS news]

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

CRUDE: May WTI: $92.99/bbl, up 29 cents/bbl. May BRENT: $104.18/bbl, up 6 cents/bbl
Crude oil futures reversed gains from earlier but remained in positive territory amid the Bank of Japan’s determination to boost its economy and prevent further deflation.

NAPHTHA: $842-844/tonne, down $6-7/tonne
The cargo range edged down from earlier in the day. There was one trade in today’s open market trading. May swaps were assessed at $838-839/tonne.

BENZENE: $1,280-1,290/tonne, narrowing
April narrowed this afternoon, while May bids crept up to $1,280/tonne but were still not met with any offers. The range was later valued at $1,280-1,315/tonne, with sellers increasingly bullish for the forward month.

STYRENE: $1,600-1,620/tonne, down $10-15/tonne
Offers for April came down as the forward month started to pull away, with a range of $1,615-1,650/tonne heard for May. April came down further as the afternoon progressed, while May closed at $1,600-1,640/tonne.

TOLUENE: $1,150-1,160/tonne, down $10-15/tonne
The spot range for April was assessed lower amid weak demand and some aggressive offers heard in the market.

MTBE: $1,108/tonne, down $2/tonne
Prices edged down with one trade of $1,108/tonne FOB AR reported during the open market session. EuroBob gasoline traded at $973-977/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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