EVENING SNAPSHOT – Europe Markets Summary

17 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: $95.17/bbl, up 1 cent/bbl. July BRENT: $103.91/bbl, up 13 cents/bbl
Crude oil futures reversed gains to trade around Thursday’s settlement, after the US Federal Reserve hinted that it may cut back its asset purchase programme.

NAPHTHA: $845-847/tonne, stable
The cargo range remained stable. May swaps were assessed at $842-843/tonne.

BENZENE: $1370-1388/tonne, down $2/tonne on the offer
Europe benzene offers fell slightly to $1,388/tonne, against flat bids. The fall in offers was because of weak demand. June was backwardated on the offer side at $1,370-1,380/tonne, and July bids and offers were at $1,360-1,380/tonne. A deal was rumoured at $1,388/tonne for May, but unconfirmed on either side.

STYRENE: $1,680-1,705/tonne, narrowing
Europe styrene May bids and offers continued to narrow. June was backwardated at $1,670-1,695/tonne. There was a May deal confirmed at $1,685/tonne and a June deal also confirmed at $1,685/tonne. Buying interest was low throughout the day.

TOLUENE: $1,140-1,185/tonne, down $20/tonne on the bid
Toluene bids fell to $1,140/tonne as buyers said that numbers above this were unworkable at current US numbers. Offers were stable at $1,185/tonne.

MTBE: $1,108/tonne, steady
No trades, bids or offers were heard during the open market session, the range has been assessed steady as a result. EuroBob gasoline traded at $966-969/tonne FOB ARA.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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