EVENING SNAPSHOT – Europe Markets Summary

02 May 2013 17:30  [Source: ICIS news]

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

CRUDE: June WTI: $91.58/bbl, up 55 cents/bbl. June BRENT: $100.55/bbl, up 60 cents/bbl
Crude oil futures gained, supported by a fall in fresh unemployment benefit claims in the US and the European Central Bank announcing a cut in interest rates to boost economic activity.

NAPHTHA: $789-791/tonne, down $6/tonne. 
The cargo range edged down. There was one trade at today’s open market session. May swaps were assessed at $795-797/tonne.

BENZENE: $1,340-1,360/tonne, up $5/tonne on the sell side
Offers for May moved up to $1,360/tonne. June traded at $1,345/tonne and the range was valued at $1,340-1,355/tonne.

STYRENE: $1,550-1,565/tonne, down $5/tonne on the sell side
Offers for May came down to $1,565/tonne in a quiet market. June offers were also down from earlier at $1,575/tonne. The May styrene customer reference price (CRP) has settled at €1,405/tonne FCA Rotterdam, down €8/tonne from the previous month.

TOLUENE: $1,150-1,170/tonne, up $30/tonne on the buy side
The bid level was assessed higher following several May contracts being settled at $1,155-1,160/tonne, with firmer US numbers and upcoming turnarounds in Europe adding some upward pressure. There is also an expectation across the wider aromatics sector that demand will see an upturn this month, with key end-use markets such as construction and food packaging entering a seasonally strong period.

MTBE: $1,040/tonne, unchanged
MTBE traded again at $1,040/tonne in the open market. EuroBob gasoline traded at $908-913/tonne, putting the MTBE factor against barges at 1.14-1.15.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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