EVENING SNAPSHOT – Europe Markets Summary

13 May 2013 17:27  [Source: ICIS news]

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

CRUDE: June WTI: $94.77/bbl, down $1.27/bbl. June BRENT: $102.54/bbl, down $1.37/bbl
Crude oil futures remained in negative territory late on Monday pressured by concerns over the Chinese economy, which saw industrial output data for April reported below forecast .

NAPHTHA: $832-833/tonne, down $1-2/tonne
Prices slipped fractionally with two cargo deals done in the range above. June swaps were assessed at $830-831/tonne.

BENZENE: $1,390-1,400/tonne, up $15-20/tonne
European benzene spot prices moved up, with more buyers than sellers seen in the market. June benzene also firmed but remained backwardated against May at $1,375-1,380/tonne.

STYRENE: $1,655-1,675/tonne, up $20-25/tonne
European styrene traded at $1,640/tonne for May. Following the deal, prices moved up in line with gains in benzene values. June bid at $1,645/tonne, but this was not met with any corresponding offers.

TOLUENE: $1,160-1,170/tonne, range narrows
Although the spot market lacks any transparency, spot toluene was assessed slightly higher following recent gains seen in the US.

MTBE: $1,049-1,064/tonne, down $1-6/tonne
No open market trades were heard, but the range has been edged down on lower bids and offers heard. EuroBob gasoline traded at $935-945/tonne FOB ARA.

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By: Staff Reporter
+44 20 8652 3214

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