EVENING SNAPSHOT Europe Markets Summary

10 July 2013 17:20  [Source: ICIS news]

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

CRUDE: August WTI: $105.50/bbl, up $1.97/bbl. August BRENT: $108.21/bbl, up 40 cents/bbl
Crude futures remained in positive territory late on Wednesday, finding support from a much larger-than-expected drop in US crude stocks. However, the gains were capped by underwhelming export data from China.

NAPHTHA: $880-888/tonne, down $7/tonne on the low end, stable on the high end. 
The cargo range was stable to soft. There were two trades in the open market platform today.
August swaps were assessed at $876-877/tonne.

BENZENE: $1,270-1,280/tonne, up $10/tonne on the buy side
Bids for July and August edged up to $1,270/tonne this afternoon, supported by crude gains during the day.

STYRENE: $1,790-1,820/tonne, steady
There was a July deal at $1,810/tonne but this was so far unconfirmed by the seller. August was also traded at $1,735/tonne but this was also not confirmed. A range was later heard at $1,760-1,785/tonne.

TOLUENE: $1,040-1,060/tonne, steady
The market was quiet, and the spot range was unchanged. Prompt material is tight as producers are preferring to sell into the gasoline market, where blending values are favourable. With gasoline prices now above $1,000/tonne FOB ARA mark, there was in fact some room for spot values to edge upward.

MTBE: $1,141-1,142/tonne, steady
Prices have been assessed stable, with only an offer of $1,198/tonne FOB AR heard during the open market session. EuroBob gasoline traded at $1,008-1,013/tonne FOB ARA.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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