EVENING SNAPSHOT Europe Markets Summary

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.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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