14 October 2013 17:23 [Source: ICIS news]
LONDON (ICIS)--Here is Monday’s end of day European oil and chemical market summary from ICIS.
CRUDE: November WTI: $101.55/bbl, down 47 cents/bbl. November BRENT: $110.12/bbl, down $1.16/bbl
Crude futures remained depressed by the ongoing stalemate in the US over the budget and debt ceiling. Prices were also pressured by expectations that the BP-operated Forties Pipeline System will remain operational if workers at the Grangemouth refinery go on strike next week.
NAPHTHA: $903-905/tonne, down $2/tonne
The cargo range was assessed down from earlier in the day. There were no trades in the open market platform today.
November swaps were assessed at $905-907/tonne.
BENZENE: $1,190-1,210/tonne, down $5/tonne on the sell side
There was talk of an October deal done at $1,200/tonne and the range edged down slightly on the sell side this afternoon. November was flat with October.
STYRENE: $1,580-1,620/tonne, down $20/tonne on the sell side
A November deal was done at $1,610/tonne earlier today. Offers for both months came down to $1,620/tonne in an otherwise subdued market. There was talk of a prompt deal done at $1,630/tonne but this was so far unconfirmed.
TOLUENE: $1,065-1,085/tonne, steady
The spot market remains subdued amid weak US and Asian pricing. The bid/offer range was unchanged.
MTBE: $1,071-1,072/tonne, down $26-27/tonne
Prices edged down on two trades during the open window session. The MTBE factor against Eurobob cash barges was assessed at 1.14.
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