EVENING SNAPSHOT – Europe Markets Summary

24 April 2013 17:52  [Source: ICIS news]

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

CRUDE: June WTI: $90.66/bbl, up $1.48/bbl. June BRENT: $101.35/bbl, up $1.04/bbl
Crude oil futures traded firmer on Wednesday supported by firmer stock markets, falling crude oil stocks in the US, according to the American Petroleum Institute and the and on news Italy looks set to appoint a new Prime Minister.

NAPHTHA: $797-800/tonne, up $2/tonne
The cargo range was assessed up from earlier in the day on higher crude oil prices. There were no trades at today’s open market session. May swaps were assessed at $795-797/tonne.

BENZENE: $1,405-1,420/tonne, down $5/tonne on the sell side
The market was relatively subdued this afternoon. There was a May deal done at $1,390/tonne and the range closed at $1,380-1,400/tonne. April and the first half of May were slightly higher amid ongoing rumours of production problems with one European aromatics unit.

STYRENE: $1,545-1,560/tonne, up $5/tonne on the buy side
Bids crept up slightly this afternoon in a quiet market, with slow derivative demand keeping players on the sidelines as benzene supported higher offers. May was in contango at $1,565-1,580/tonne.

TOLUENE: $1,120-1,140/tonne, steady
The ongoing slump in oil and energy futures continues to weigh down on the market amid slow demand and limited export potential. The spot range was assessed steady.

MTBE: $1,040-1,060/tonne, steady
Prices remain steady, with only one bid of $1,040/tonne FOB AR heard during the open market window.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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