EVENING SNAPSHOT – Europe Markets Summary
03 May 2013 17:25 [Source: ICIS news] LONDON (ICIS)--Here is Friday’s end of day European oil and chemical market summary from ICIS.
CRUDE: June WTI: $95.78/bbl, up $1.79/bbl. June BRENT: $104.63/bbl, up $1.78/bbl
Crude oil futures extended gains, finding support from firmer stock markets and falling unemployment in the US.
NAPHTHA: $820-821/tonne, up $24/tonne on the low end, up $23/tonne on the high end
The cargo range edged up. There were two trades in today’s open market session. May swaps were assessed at $820-822/tonne.
BENZENE: $1,355-1,370/tonne, down $10/tonne on the sell side
May later traded at $1,360/tonne and $1,365/tonne, and offers closed lower at $1,370/tonne. June was valued at $1,350-1,370/tonne.
STYRENE: $1,555-1,585/tonne, up $5/tonne on the sell side
There was a prompt May deal done this afternoon at $1,585/tonne but the market was otherwise quiet. The bid/offer range for the month was assessed slightly higher on the offer side to reflect this.
TOLUENE: $1,150-1,170/tonne, steady
May contracts were confirmed at $1,155-1,160/tonne FOB NWE, a decrease of $15/tonne from last month, with stronger US numbers mitigating some of the downward movement. An upturn in demand is expected this month across the wider aromatics sector, due to the onset of strong seasons for key end markets including construction and food packaging.
MTBE: $1,040/tonne, unchanged
There were no open market MTBE trades. EuroBob gasoline traded in the range $933-943/tonne.
For more pricing intelligence please visit ICIS pricingBy: Staff Reporter+44 20 8652 3214
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