EVENING SNAPSHOT – Europe Markets Summary

12 April 2013 17:40  [Source: ICIS news]

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

CRUDE: May WTI: $90.71/bbl, down $2.80/bbl. May BRENT: $101.52/bbl, down $2.75 cents/bbl
Crude oil futures extended losses on Friday afternoon pushing both Brent and WTI to trade well below Thursday’s settlements due to continued eurozone worries and weaker stock markets around the globe.

NAPHTHA: $796-798/tonne, down $18/tonne
The cargo range edged down from earlier in the day on trades in today’s open market trading session. May swaps were assessed at $809-811/tonne.

BENZENE: $1,310-1,320/tonne, down $10/tonne on the sell side
April edged back down following the brief upturn earlier in the day. May was in contango at $1,315-1,330/tonne.

STYRENE: $1,565-1,585/tonne, up $10/tonne on the sell side
Bids for April came down to $1,555/tonne before the range stabilised. May was valued at $1,585-1,595/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 MTBE spot market remains devoid of any buying interest, the price is assessed unchanged as a result. EuroBob gasoline traded at $926-934/tonne FOB AR.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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