EVENING SNAPSHOT – Europe Markets Summary
19 April 2013 17:12 [Source: ICIS news]
LONDON (ICIS)--Here is Friday’s end of day European oil and chemical market summary from ICIS. CRUDE: May WTI: $88.11/bbl, up 38 cents/bbl. June BRENT: $99.92/bbl, up 79 cents/bbl
Crude oil futures remained positive, supported by firm stock markets. However, prices edged lower from earlier highs pressured by continued concerns over global oil demand growth.
NAPHTHA: $792-794/tonne, down $1/tonne on the low end, stable on the high end
The cargo range was soft-to-stable compared with earlier in the day. There were two trades at today’s open market trading session. May swaps were assessed at $790-791/tonne.
BENZENE: $1,380-1,395/tonne, up $5-10/tonne
April edged up further, although the market was primarily focused on May, which was valued higher at $1,380-1,400/tonne and traded twice at $1,390/tonne.
STYRENE: $1,525-1,550/tonne, up $15/tonne on the buy side
Bids for April edged up this before the current month traded at $1,545/tonne. May was valued at $1,555-1,575/tonne.
TOLUENE: $1,120-1,140/tonne, steady
Rumours of CIF deals done earlier in the week at $1,100-1,125/tonne kept price ideas down, while weaker energy numbers also added to the downtrend. 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. The FOB spot range was steady.
MTBE: $1,030-1,046/tonne, up $12-26/tonne
The assessed range edged up on higher bids and offers heard during the open market window. EuroBob gasoline traded at $941-944/tonne FOB ARA.
For more pricing intelligence visit ICIS pricingBy: Staff Reporter+44 20 8652 3214
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