EVENING SNAPSHOT – Europe Markets Summary

18 April 2013 17:20  [Source: ICIS news]

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

CRUDE: May WTI: $87.38/bbl, up 70 cents/bbl. June BRENT: $98.51/bbl, up 82 cents/bbl
Crude oil futures continued to trade in positive territory late on Thursday as traders took profits from a recent fall in crude oil prices.

NAPHTHA: $784-786/tonne, down $5/tonne on the low end, down $4/tonne on the high end
The cargo range was assessed down from earlier in the day on a weaker crack spread. There was no trade during today’s open market trading session. May swaps were assessed at $786-788/tonne.

BENZENE: $1,325-1,345/tonne, down $5/tonne
The market edged down this afternoon. April was valued $5/tonne lower while May was in contango at $1,330-1,350/tonne.

STYRENE: $1,510-1,525/tonne, down $10-15/tonne
Offers for April gradually edged down to $1,525/tonne and the market closed lower. May was still in contango at $1,530-1,560/tonne.

TOLUENE: $1,120-1,140/tonne, steady
The spot range was steady in a quiet market. With US prices below $4.00/gal keeping the arbitrage window from Europe closed, sources noted that it would be difficult to find any purchasing interest for spot material.

MTBE: $1,018-1,020/tonne, up $5/tonne on the low end, down $10/tonne on the high end
The assessed range narrowed with two deals reported during the open market session. EuroBob gasoline traded at $914-926/tonne FOB ARA.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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