26 July 2013 17:22 [Source: ICIS news]
LONDON (ICIS)--Here is Friday’s end of day European oil and chemical market summary from ICIS.
CRUDE: September WTI: $104.60/bbl, down 89 cents/bbl. September BRENT: $106.97/bbl, down 68 cents/bbl
Crude futures remained in negative territory late on Friday pressured by concerns over China’s slowing economy and the effect on oil demand.
NAPHTHA: $875-877/tonne, stable
The cargo range remains stable with one trade in the open market platform. August swaps were assessed at $872-874/tonne.
BENZENE: $1,265-1,275/tonne, up $10-15/tonne
August traded several times at $1,270/tonne and the market moved up. September remained in contango at $1,265-1,280/tonne.
STYRENE: $1,765-1,795/tonne, narrowing
August bids and offers narrowed slightly, while sentiment for the second half of the month was lower. September was valued at $1,720-1,740/tonne.
TOLUENE: $1,080-1,110/tonne, widening
The bid level came down this week as gasoline edged lower to around the $1,000/tonne FOB mark. However, firm US pricing is keeping any downward movement limited on the sell side amid potential arbitrage opportunities from Europe to the US Gulf region, and the spot range was assessed wider.
MTBE: $1,150-1,155/tonne, steady
There were no trades heard during the open market session, the range has been assessed stable as a result. EuroBob gasoline traded at $998/tonne FOB ARA.
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