01 November 2013 17:13 [Source: ICIS news]
LONDON (ICIS)--Here is Friday’s end of day European oil and chemical market summary from ICIS.
CRUDE: December WTI: $94.80/bbl, down $.1.58/bbl. December BRENT: $106.60/bbl, down $2.24/bbl
Crude prices tumbled as pre-weekend profit taking on the back of a firm US dollar triggered some technical sell-stops.
NAPHTHA: $913-914/tonne, down $7/tonne.
The cargo range traded down. There were two trades in the open market platform. November swaps were assessed at $908-910/tonne.
BENZENE: $1,165-1,185/tonne, up $15-20/tonne
Spot numbers edged up in line with gains in the US, but activity was limited owing to holidays across mainland Europe. December was flat with November.
STYRENE: $1,620-1,630/tonne, down $10-50/tonne
November traded at $1,625/tonne and the range moved down to reflect this. December was still backwardated with offers at $1,620/tonne.
TOLUENE: $1,000-1,050/tonne, steady
Spot activity was subdued amid ongoing November contract discussions this week. Initial contracts have settled at $1,020/tonne and $1,025/tonne FOB NWE so far, down $92.50-95.00/tonne from the previous month in line with global bearishness and weak pricing across the aromatics complex in general.
MTBE: $1,035/tonne, steady
Prices were assessed stable, with only one higher offer of $1,039/tonne during the open market session.
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