EVENING SNAPSHOT Europe Markets Summary

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

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

CRUDE: July WTI: $97.88/bbl, up 11 cents/bbl. August BRENT: $105.61/bbl, up 14 cents/bbl
Crude futures continued to trade around the same level as the previous close as investors wait for guidance from the two-day policy meeting at the US Federal Reserve.

NAPHTHA: $856-860/tonne, up $3/tonne on the low end, up $4/tonne on the high end
The cargo range was assessed up from earlier in the day on slightly higher crude oil prices. There were no trades in the open market platform today. July swaps were assessed at $850-852/tonne.

BENZENE: $1,355-1,365/tonne, narrowing
The market was quiet this afternoon ahead of the European Petrochemical Luncheon (EPL) in London later this week. The range for June narrowed slightly, while bids for July edged up to $1,335/tonne.

STYRENE: $1,700-1,725/tonne, up $5/tonne on the sell side
June was quiet and relatively steady this afternoon. July traded at $1,710/tonne this afternoon, and there was talk of August deals done at $1,665/tonne and $1,670/tonne. July closed at $1,700-1,710/tonne but the range for the second half of the month was lower at $1,685-1,695/tonne.

TOLUENE: $1,080-1,120/tonne, steady
June spot activity remains subdued. There was talk of business done at $1,110/tonne on a CFR basis, but this was unconfirmed. Downstream sentiment is increasingly bearish amid slow demand.

MTBE: $1,095-1,100/tonne, steady
Methyl tertiary butyl ether (MTBE) prices have been assessed stable, with no activity heard during open market trading. EuroBob gasoline traded at $965.50-966/tonne FOB ARA.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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