EVENING SNAPSHOT Europe Markets Summary

01 October 2013 17:11  [Source: ICIS news]

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

CRUDE: November WTI: $101.33/bbl, down $1.00/bbl. November BRENT: $107.04/bbl, down $1.33/bbl
Crude futures extended losses late on Tuesday pressured by the partial shutdown of the US Federal Government forcing 800,000 Federal workers off work.

NAPHTHA: $876-878/tonne, down $8/tonne on the low end, down $7/tonne on the high end
The cargo range traded down. There was one trade in the open market platform today. November swaps were assessed at $870-872/tonne.

BENZENE: $1,240-1,250/tonne, down $10/tonne on the buy side
Offers for both months edged down this afternoon. There was talk of a November deal done at $1,250/tonne but this was so far unconfirmed by the seller involved.

STYRENE: $1,685-1,720/tonne, narrowing
The spot range for October narrowed before a deal was eventually done at $1,715/tonne. November edged down to $1,660-1,690/tonne and December was further backwardated at $1,650-1,685/tonne.

TOLUENE: $1,110-1,130/tonne, down $15-20/tonne
An initial October contract has been agreed at $1,115/tonne, down $25-30/tonne from the previous month. The European spot range was assessed lower in line with weaker US numbers and limited activity in the Asian market.

MTBE: $1,080-1,083/tonne, steady
Prices have been assessed stable with no trades during the open window session.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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