EVENING SNAPSHOT – Europe Markets Summary

21 May 2013 17:15  [Source: ICIS news]

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

CRUDE: June WTI: $96.22/bbl, down 49 cents/bbl. July BRENT: $104.10/bbl, down 70 cents/bbl
Crude oil futures weakened pressured by weaker stock market indices in Europe and also on a firmer US dollar.

NAPHTHA: $845-847/tonne, down $6/tonne
Prices were assessed lower on a weaker crack spread and lower crude prices. June swaps were assessed at $839-840/tonne.

BENZENE: $1,385-1,400/tonne, up $15-20/tonne
May started to gain ground again this afternoon, supported by higher numbers in Asia, with offers reaching $1,400/tonne. June was valued at $1,375-1,395/tonne, although bids for the first half of the month were higher at $1,385/tonne.

STYRENE: $1,700-1,735/tonne, up $20-35/tonne
Both May and June moved up this afternoon, the upturn driven by higher benzene numbers and buying interest from industry. June traded at $1,715/tonne and $1,720/tonne.

TOLUENE: $1,140-1,185/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 ahead of summer as key end-use markets such as construction and food packaging enter a seasonally strong period.

MTBE: $1,083/tonne, down $25/tonne
Prices edged down with one trade in the open market. EuroBob gasoline traded at $962-976/tonne FOB ARA.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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