21 June 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European methyl tertiary butyl ether (MTBE) spot prices fluctuated, tracking the varied gasoline trades seen throughout the week, sources said on Friday.
Eurobob gasoline prices see-sawed, leading to a higher MTBE trade mid-week. However, by Thursday, gasoline prices declined following vast losses in the crude oil futures market.
This resulted in MTBE prices also declining by the end of the week, with a trade of $1,072/tonne FOB (free on board) AR (Amsterdam-Rotterdam) on Friday.
Also contributing to the downward pressure on prices was the factor against gasoline, which edged down slightly from last week and was at 1.13-1.15.
Demand in the Amsterdam-Rotterdam-Antwerp (ARA) region is poor, with gasoline inventories remaining at high levels, sources said.
“Strong demand from the Mediterranean region continues to drive the bulk of the activity in Europe,” one trader said.
MTBE prices were at $1,072/tonne FOB AR on Friday, down $23-28/tonne from the same time last week.
($1 = €0.76)
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