EVENING SNAPSHOT Europe Markets Summary

05 August 2013 17:18  [Source: ICIS news]

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

CRUDE: September WTI: $106.67/bbl, down 27 cents/bbl. September BRENT: $108.47/bbl, down 48 cents/bbl
Crude futures remained in negative territory late on Monday pressured by rising oil production from Libya after production was slashed to around 300,000 bbl/day last week.

NAPHTHA: $889-891/tonne, up $5/tonne
The cargo range was assessed up from the previous close, with one trade at $890/tonne CIF NWE. September swaps were assessed at $886-887/tonne.

BENZENE: $1,245-1,270/tonne, down $10/tonne on the buy side
August moved down on the buy side this afternoon amid upstream losses. September was also lower at $1,250-1,275/tonne.

STYRENE: $1,745-1,770/tonne, down $5/tonne on the buy side
Bids for August moved slightly lower this afternoon in a thin market, with attention primarily focused on the second half of the month. September was valued at $1,740-1,760/tonne.

TOLUENE: $1,110-1,130/tonne, steady
Gasoline prices remain above $1,000/tonne FOB AR alongside bullish US pricing, which is supporting the European bid/offer spot range. High blend values within refineries are also keeping toluene extraction limited, which is likely to keep domestic availability balanced-to-tight in August.

MTBE: $1,175/tonne, up $3-7/tonne
Prices edged up on two deals heard during the open window session. EuroBob gasoline traded at $1,000-1,010/tonne FOB AR.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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