25 April 2013 17:18 [Source: ICIS news]
LONDON (ICIS)--Here is Thursday’s end of day European oil and chemical market summary from ICIS.
CRUDE: June WTI: $91.54/bbl, up 11 cents/bbl. June BRENT: $102.27/bbl, up 54 cents/bbl
Crude oil futures remained in positive territory supported by UK GDP data which showed the UK economy grew in the first quarter of the year escaping a triple-dip recession. Prices were also supported by jobs data from the US showing a reduction in new claims for unemployment benefits last week.
NAPHTHA: $811-813/tonne, up $4-5/tonne
The cargo range edged up from earlier in the day. There was one trade duringtoday’s open market session. May swaps were assessed at $810-812/tonne.
BENZENE: $1,370-1,380/tonne, narrowing
The range for May came down but later recovered. Bids moved as low as $1,365/tonne although the first half of the month was valued higher, with some concerns for prompt availability still lingering. Several deals were done for May at $1,370-1,380/tonne. June narrowed from earlier to close at $1,365-1,375/tonne.
STYRENE: $1,545-1,570/tonne, widening
May was valued 1,545-1,570/tonne, slightly down on the buy side. June was valued at $1,545-1,575/tonne. There were no April numbers although the spread with May was talked at $10-30/tonne.
TOLUENE: $1,120-1,140/tonne, steady
The slump in oil and energy futures earlier this month continues to weigh down on the market amid slow demand and limited export potential. The spot range was assessed steady.
MTBE: $1,057/tonne, up $17/tonne on the low end, down $3/tonne on the high end
The assessed range narrowed with one deal of $1,057/tonne FOB AR heard in the open market session.
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