EVENING SNAPSHOT – Europe Markets Summary

11 April 2013 17:10  [Source: ICIS news]

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

CRUDE: May WTI: $94.21/bbl, down 43 cents/bbl. May BRENT: $104.94/bbl, down 85 cents/bbl
Crude oil futures extended losses late on Thursday, pressured by a report published by the International Energy Agency which slashed its world oil demand growth for 2013.

NAPHTHA: $823-825/tonne, down $15/tonne
The cargo range edged down  and there was one trade at today’s open market trading. May swaps were assessed at $824-826/tonne.

BENZENE: $1,290-1,305/tonne, down $5/tonne on the sell side
Offers for April edged down slightly in a quiet market. May was valued at $1,300-1,320/tonne.

STYRENE: $1,560-1,575/tonne, down $5-15/tonne
The market came down further this afternoon, with April deals at $1,570/tonne and $1,575/tonne. May held a slight contango at $1,580-1,590/tonne after deals done earlier at $1,575/tonne, $1,585/tonne, $1,590/tonne and $1,595/tonne.

TOLUENE: $1,150-1,160/tonne, steady
With the arbitrage window into the US from Europe closed, toluene players noted that it would be difficult to find any purchasing interest for spot material. The market was quiet amid continued weak downstream demand and no interest from the gasoline blending sector, and the range was steady.

MTBE: $1,108/tonne, steady
The market remains quiet with no trades done. Only an offer was seen at $1,180/tonne, and the assessed price is unchanged. EuroBob gasoline traded at $944tonne.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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