EVENING SNAPSHOT Europe Markets Summary

21 August 2013 17:17  [Source: ICIS news]

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

CRUDE: October WTI: $104.53/bbl, down 58 cents/bbl. October BRENT: $109.76/bbl, down 39 cents/bbl
Crude futures remained in negative territory late on Wednesday on news that some Libyan export terminals have now re-opened paving for the possibility for exports to resume shortly.

NAPHTHA: $912-914/tonne, up $2/tonne
The cargo range was assessed up from earlier in the day. There were no trades in the open market platform today. September swaps were assessed at $911-913/tonne.

BENZENE: $1,270-1,280/tonne, down $5/tonne
Offers for August were later heard at $1,295/tonne but were not met with any firm bids. A deal was later done at $1,275/tonne and the range moved down. September offers also edged down to $1,290/tonne.

STYRENE: $1,740-1,770/tonne, up $20/tonne on the sell side
The market was quiet this afternoon following the earlier flurry of activity. Offers for August were higher on the sudden bullishness while September was also firmer at $1,740-1,760/tonne.

TOLUENE: $1,070-1,130/tonne, steady
Spot activity was limited and the bid/offer range was steady. The gasoline/naphtha spread dropped below than $100/tonne this week, which is likely to ease some of the tightness in Europe as the blending value for refiners comes down. Spot activity remains subdued amid the summer holiday season, while the arbitrage window into the US Gulf region from Europe remains thin.

MTBE: $1,204-1,221/tonne, down $10/tonne on the low side, up $7/tonne on the high side
The price range widened during an afternoon of volatility during the open window session. Four trades were heard taking place. Eurobob gasoline traded at $1,017-1,022/tonne FOB AR.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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