EVENING SNAPSHOT Europe Markets Summary

17 June 2013 17:06  [Source: ICIS news]

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

CRUDE: July WTI: $98.01/bbl, up 16 cents/bbl. August BRENT: $106.00/bbl, up 7 cents/bbl
Crude futures remained in positive territory late on Monday, finding some support from European stock markets, which were trading in positive territory.

NAPHTHA: $859-862/tonne, down $5/tonne 
The cargo range was assessed down from earlier in the day on a weaker crack spread. There were no trades in the open market platform today.
July swaps were assessed at $853-854/tonne.

BENZENE: $1,350-1,370/tonne, up $5-10/tonne
une reversed some of the earlier losses this afternoon as crude firmed and the US market stabilised. Firmer styrene numbers also supported the gains. July traded at $1,340/tonne.

STYRENE: $1,725-1,740/tonne, down $10/tonne on the sell side
June traded at $1,730/tonne and $1,735/tonne this afternoon amid some ongoing tightness for prompt material. Firmer demand levels are also pushing up July numbers. July was valued at $1,710-1,725/tonne.

TOLUENE: $1,080-1,120/tonne, steady
June spot activity remains subdued. Offers were heard by some players just below contract price levels for June while others valued the market closer to $1,100/tonne. There was talk of business done at $1,110/tonne on a CFR basis, but sources pointed out this was still too high for any export business. Downstream sentiment is increasingly bearish amid slow demand.

MTBE: $1,095-1,100/tonne, steady
No activity was heard during open market trading and prices have been assessed stable as a result. EuroBob gasoline traded at $969-973/tonne FOB ARA.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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