EVENING SNAPSHOT Europe Markets Summary

21 June 2013 17:03  [Source: ICIS news]

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

CRUDE: August WTI: $93.97/bbl, down $1.17/bbl. August BRENT: $100.80/bbl, down $1.35/bbl
Crude futures fell into negative territory late on Friday pressured by on-going concerns over China’s economy. Prices were also pressured by European stock markets where UK’s FTSE 100, France’s CAC 40 and Germany’s Dax Index were all trading in negative territory.

NAPHTHA: $821-823/tonne, down $17/tonne
The cargo range was assessed down from earlier in the day on a steep fall in ICE Brent crude oil futures. There were no trades in the open market platform today. July swaps were also assessed at $821-823/tonne.

BENZENE: $1,335-1,345/tonne, down $10/tonne
The market remained quiet and the range for June came down slightly. Activity was thin following the European Petrochemical Luncheon (EPL). There was a deal done at $1,345/tonne. July was valued flat with June.

STYRENE: $1,710-1,720/tonne, down $10/tonne on the sell side
The market saw some downward movement today amid no clear buying interest from industry and reports of renewed production output. June was initially valued at $1,680-1,700/tonne. However, June later traded at $1,715/tonne, indicating that there was still some buoyancy in the market. July was valued at $1,660-1,700/tonne, with the second half of the month softening with the arrival of imports from the US.

TOLUENE: $1,080-1,120/tonne, steady
June spot activity remains subdued. Offers were reported by some players just below contract price levels for June while others valued the market closer to $1,100/tonne. Sources said there was business done at $1,095/tonne this week, but this was not confirmed. Downstream sentiment is increasingly bearish amid slow demand.

MTBE: $1,072/tonne, down $9-19/tonne
Prices declined with one trade heard during open market trading. EuroBob gasoline traded at $936-945/tonne FOB ARA.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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