EVENING SNAPSHOT – Europe Markets Summary

08 May 2013 17:16  [Source: ICIS news]

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

CRUDE: June WTI: $96.00/bbl, up 38 cents/bbl. June BRENT: $104.09/bbl, down 31 cents/bbl
WTI crude oil futures climbed late on Wednesday despite the US Energy Information Administration publishing its weekly stock report showing crude oil stocks increased last week, setting a new record high.

NAPHTHA: $840-842/tonne, up $10/tonne
The cargo range edged up. There was one trade in today’s open market session. M
ay swaps were assessed at $840-842/tonne.

BENZENE: $1,355-1,370/tonne, up $5/tonne on the buy side
Bids for May edged up to $1,355/tonne following two deals done at $1,360/tonne. June narrowed to $1,350-1,360/tonne.

STYRENE: $1,595-1,610/tonne, up $5/tonne on the buy side
Bids were at $1,595/tonne this afternoon while offers remained steady. June was flat with May.

TOLUENE: $1,150-1,170/tonne, steady
The spot market was quiet and the range was steady, amid 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, steady
An offer of $1,092/tonne, which gradually declined to $1,070/tonne throughout the window, was not enough to entice any buying interest. The range has been assessed steady as a result.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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