EVENING SNAPSHOT Europe Markets Summary

11 September 2013 17:21  [Source: ICIS news]

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

CRUDE: October WTI: $107.68/bbl, up 29 cents/bbl. October BRENT: $111.67/bbl, up 42 cents/bbl
Crude oil futures gained, finding support from a fall in US crude oil stocks. Although the decline in inventories was less than forecast, the 200,000 barrel drop pushes stock levels to the lowest levels since February 2012.

NAPHTHA: $940-941/tonne, stable on the low end, down $1/tonne on the high end. 
The cargo range traded stable to soft from earlier in the day. There were two trades in the open market platform. October swaps were assessed at $930-932/tonne.

BENZENE: $1,305-1,315/tonne, down $10/tonne on the sell side
Offers for September edged back down in a quiet market, erasing earlier gains, as crude oil futures slipped. October remained in contango at $1,310-1,330/tonne, and there was talk of November deals done at $1,310/tonne and $1,315/tonne.

STYRENE: $1,820-1,860/tonne, down $20/tonne on the sell side
Subsequent upstream losses saw sellers move offers for September back down to $1,860/tonne. The range for October narrowed to $1,765-1,780/tonne amid some expectation that the forward month and the second half of September would see improved availability as some imports arrive from the US.

TOLUENE: $1,140-1,155/tonne, steady
European spot numbers remain firm with offers at $1,155/tonne, buoyed by positive sentiment in both Asia and the US for the upcoming weeks. Availability in Europe is balanced outside of contractual volumes.

MTBE: $1,169-1,170/tonne, stable
Prices have been assessed stable, with no trades, bids or offers during the open window session for the second consecutive day. Eurobob gasoline traded at $964-967/tonne FOB ARA.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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