EVENING SNAPSHOT Europe Markets Summary
27 June 2013 17:15 [Source: ICIS news] LONDON (ICIS)--Here is Thursday’s end of day European oil and chemical market summary from ICIS.
CRUDE: August WTI: $96.62/bbl, up $1.12/bbl. August BRENT: $102.59/bbl, up 93 cents/bbl
Crude futures gained, as the US Federal Reserve is unlikely to scale back its monetary easing programme after the US Department of Commerce revised US GDP growth lower to 1.80% from 2.40% in the first quarter.
NAPHTHA: $824-826/tonne, stable
The cargo range is stable. There was one trade in the open market platform. July swaps were assessed at $825-827/tonne.
BENZENE: $1230-1,245/tonne, narrowing
Benzene July spot bids and offers narrowed, amid a quiet market. A buyer said it had bought at $1,240/tonne for July, but this could not be confirmed on the sell side at time of writing. August was backwardated on the bid side at $1,225, while offers were at parity with July.
STYRENE: $1665-1740/tonne, up $15-40/tonne
Styrene spot bids and offers firmed because of tight supply. Offers for first-half July delivery reached as high as $1,740/tonne. Bids for any July were at $1,665/tonne, but buying interest was muted. August remained rangebound amid low activity.
TOLUENE: $1030-1070/tonne, stable
Toluene prices were range-bound as players attention is focused on July contract discussions.
MTBE: $1,075/tonne, stable
Prices have been assessed stable, with no trades reported in today’s open market session. EuroBob gasoline traded at $924-933/tonne FOB ARA.
For more pricing intelligence visit ICIS pricingBy: Staff Reporter+44 20 8652 3214
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