Europe MTBE values continue to decline on weak energy complex

27 September 2013 18:09  [Source: ICIS news]

LONDON (ICIS)--European methyl tertiary butyl ether (MTBE) prices fell further this week, in line with the losses made in the crude oil and gasoline markets, sources stated on Friday.

With the trading of summer-spec gasoline coming to an end, greater numbers of MTBE spot trades were seen in the open market; however, participants are in agreement that activity remains at lower levels than expected.

Despite recent declines to the MTBE price, participants note this has yet to ignite trading activity in the spot market.

With a slight backwardation between September and October gasoline, one participant does not think many traders will be encouraged into taking positions in the spot market at present. 

The factor against EuroBob gasoline barges remained stable throughout the week, at 1.15-1.16.

($1 = €0.74)

By: Neha Popat
+44 208 652 3214

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