09 May 2013 17:13 [Source: ICIS news]
LONDON (ICIS)--Here is Thursday’s end of day European oil and chemical market summary from ICIS.
CRUDE: June WTI: $95.67/bbl, down 95 cents/bbl. June BRENT: $103.80/bbl, down 54 cents/bbl
Crude oil futures weakened on a firmer US dollar, record high stocks in the US and also concerns that the US Federal Reserve will curb back its loose monetary policy amid positive jobs data.
NAPHTHA: $839-841/tonne, up $4/tonne.
The cargo range edged up. There was one trade in today’s open market session. May swaps were assessed at $838-840/tonne.
BENZENE: $1,360-1,380/tonne, steady
The market was quiet owing to holidays across Europe and the 2013 APIC conference in Taipei, Taiwan this week. The ranges for both months were steady.
STYRENE: $1,610-1,625/tonne, up $5-10/tonne
Bids edged up to $1,610/tonne and the market was assessed slightly firmer, although there are very few active participants owing to public holidays across Europe.
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
Public holidays throughout most of Europe led to no MTBE trades, bids, or offers during the open market session. The range has been assessed steady as a result.
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