EVENING SNAPSHOT Europe Markets Summary

22 August 2013 17:20  [Source: ICIS news]

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

CRUDE: October WTI: $104.27/bbl, up 42 cents/bbl. October BRENT: $109.77/bbl, down 4 cents/bbl
NYMEX light-sweet crude oil futures remained in positive territory, finding support from positive purchasing managers’ index data from both China and the eurozone.

NAPHTHA: $919-921/tonne, up $7/tonne
The cargo range traded up. There were two trades in the open market platform today. September swaps were assessed at $913-915/tonne.

BENZENE: $1,270-1,290/tonne, up $5-10/tonne
The market saw some upward movement although no deals were confirmed. September pushed up over the $1,300/tonne level, closing at $1,300-1,305/tonne. August was valued slightly higher, with some length in the prompt market weighing down on momentum.

STYRENE: $1,755-1,780/tonne, up $10-15/tonne
Bids for both months were firmer amid renewed buying interest, although the source of the current bullishness is unclear. August bids were at $1,755/tonne while September was higher at $1,765/tonne and offers as high as $1,800/tonne.

TOLUENE: $1,070-1,130/tonne, steady
Spot activity was limited and the bid/offer range was steady. Spot activity remains subdued amid the summer holiday season, although an upturn in the US market is likely to support some higher numbers ahead of September.

MTBE: $1,197-1,210/tonne, down $7-11/tonne
Prices edged down, with three trades were heard taking place during the open market session. Eurobob gasoline traded at $1,014/tonne FOB AR.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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