EVENING SNAPSHOT Europe Markets Summary
29 August 2013 17:36 [Source: ICIS news]
LONDON (ICIS)--Here is Thursday’s end of day European oil and chemical market summary from ICIS.
CRUDE: October WTI: $109.30/bbl, down 80 cents/bbl. October BRENT: $115.93/bbl, down 68 cents/bbl
Crude futures remained in negative territory as the UK, US and its allies backed down from imminent military action against Syria. The UN Secretary General is expecting a report from inspectors currently in Syria.
NAPHTHA: $961-964/tonne, down $5-6/tonne
The cargo range traded down from earlier in the day. There were four trades in the open market platform today.
September swaps were assessed at $960-961/tonne.
BENZENE: $1,290-1,300/tonne, up $5/tonne on the sell side
Offers moved as high as $1,305/tonne before edging back down. October was valued at $1,290-1,305/tonne, with forward-looking sentiment still firm.
STYRENE: $1,880-1,950/tonne, down $20-30/tonne
September edged down further but remains at record highs amid extreme tightness for prompt availability. There was an FOB MED deal talked at $1,930/tonne this afternoon, pending further confirmation. October moved down to close at $1,750-1,770/tonne.
TOLUENE: $1,120-1,140/tonne, up $10/tonne on the sell side
The spot market edged up on the offer side, with prices supported by gains seen in the US, and strong oil and energy numbers. Derivative toluene di-isocyanate (TDI) players are expecting a seasonal uplift next month following a weak first half of 2013. One TDI supplier has declared force majeure, which will help keep upward pressure on pricing.
MTBE: $1,252/tonne, steady
Two trades were heard during the open window session, both at yesterday’s levels. Eurobob gasoline traded at $1,052-1,056/tonne FOB AR.
For more pricing intelligence please visit ICIS pricingBy: Staff Reporter+44 20 8652 3214
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial
to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free
trial to ICIS Chemical Business.