23 May 2013 17:03 [Source: ICIS news]
LONDON (ICIS)--Here is Thursday’s end of day European oil and chemical market summary from ICIS.
CRUDE: July WTI: $92.91/bbl, down $1.37/bbl. July BRENT: $101.27/bbl, down $1.33/bbl
Crude oil futures weakened on Thursday pressured by bearish economic data in China indicating that its manufacturing sector is beginning to contract.
NAPHTHA: $822-823/tonne, down $4-6/tonne
Two deals were done at lower prices in reflection of weakening crude numbers. June swaps were assessed at $818-819/tonne.
BENZENE: $1,360-1,380/tonne, down $10/tonne
There was little to no activity this afternoon. May was valued lower, while June was backwardated at $1,365-1,375/tonne.
STYRENE: $1,650-1,670/tonne, down $15-25/tonne
The market came down further this afternoon, with no clear industry buying interest seen towards the end of the week. There was a June deal done at $1,660/tonne, pending confirmation from the seller.
TOLUENE: $1,140-1,170/tonne, down $15/tonne on the sell side
The range was assessed slightly lower at the high end, in line with the lower US numbers and the slump seen in Asia, where prices have struggled to gain traction amid softer crude futures and poor Chinese manufacturing data.
MTBE: $1,083/tonne, steady
No trades, bids or offers were heard in the open market session. The range has been assessed steady as a result.
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