24 May 2013 17:01 [Source: ICIS news]
LONDON (ICIS)--Here is Friday’s end of day European oil and chemical market summary from ICIS.
CRUDE: July WTI: $93.37/bbl, down 88 cents/bbl. July BRENT: $101.86/bbl, down 58 cents/bbl
Crude futures extended losses as fears mount that the US Federal Reserve could scale back its quantitative easing programme in the near future and allow interest rates to rise.
NAPHTHA: $827-828/tonne, down $3/tonne
Prices declined on weaker crude oil values. Two trades took place during the afternoon session. June swaps were assessed at $824-825/tonne.
BENZENE: $1,360-1,375/tonne, down $5/tonne on the buy side
Bids for May edged down slightly while June was valued at $1,360-1,375/tonne. The market was quiet overall, owing to the upcoming three day weekend in the US and UK.
STYRENE: $1,660-1,680/tonne, up $15/tonne
The bid/offer range moved up this afternoon. May traded earlier at $1,660/tonne and $1,670/tonne, and there was an unconfirmed June deal at $1,670/tonne.
TOLUENE: $1,140-1,170/tonne, steady
Offers were lower this week in line with 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: $1,074-1,084/tonne, down $9/tonne on the low end, up $1/tonne on the high end
There were no trades in the open market. The range has been widened to reflect bids and offers heard. EuroBob gasoline traded at $954/tonne FOB ARA.
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