EVENING SNAPSHOT Europe Markets Summary

12 August 2013 17:06  [Source: ICIS news]

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

CRUDE: September WTI: $105.55/bbl, down 42 cents/bbl. September BRENT: $107.99/bbl, down 23 cents/bbl
Crude futures weakened, pressured by mixed stock performances in European stock markets, where the FTSE 100 and CAC 40 were both trading in negative territory while Germany’s Dax was trading firmer compared to the previous settlement. Similarly, Japanese stocks fell on a below forecast Q2 GDP result.

NAPHTHA: $894-896/tonne, down $3/tonne
The cargo range edged down on the back of a softer crack spread. No trades were reported this afternoon. September swaps were assessed at $885-887/tonne

BENZENE: $1,245-1,260/tonne, narrowing
The range for August narrowed. There was a September deal talked at $1,270/tonne, but this was not confirmed so far.

STYRENE: $1,740-1,750/tonne, up $5-25/tonne
Bids for August moved up on renewed buying interest, and deals were done at $1,740/tonne and $1,750/tonne pending further confirmation. September was flat with August.

TOLUENE: $1,120-1,140/tonne, steady
Steady to firm oil futures and lower toluene extraction rates at refineries are keeping spot values bullish, Despite the growing uptrend for toluene in August, many players are wary of the higher numbers due to some price erosion in both the US and Asia as well as flat domestic demand.

MTBE: $1,144-1,150/tonne, steady
No trades were heard during the open window session, prices have been assessed stable as a result. EuroBob gasoline traded at $999-1,003/tonne FOB AR.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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