EVENING SNAPSHOT Europe Markets Summary

06 November 2013 17:25  [Source: ICIS news]

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

CRUDE: December WTI: $94.49/bbl, up $1.12/bbl. December BRENT: $105.73/bbl, up 40 cents/bbl
Crude futures gained ground supported by a larger-than-expected decline in US stockpiles of gasoline and middle distillates. However, crude oil stocks increased by 1.60m barrels, capping potential gains.

NAPHTHA: $907-908/tonne, down $5/tonne on the low end, down $6/tonne at the high end
The cargo range was assessed down. There were four trades in the open market platform today. December swaps were assessed at $892-894/tonne.

BENZENE: $1,150-1,160/tonne, up $10/tonne
The market reversed some of the earlier losses although activity was subdued, with December closing flat with November.

STYRENE: $1,600-1,620/tonne, up $15/tonne on the buy side
November traded at $1,610/tonne, and the bid level edged up to reflect this. The European styrene customer reference price (CRP) for November has decreased by €85/tonne from the previous month to settle at €1,373/tonne FCA Rotterdam, in line with the barge contract reduction agreed earlier this week.

TOLUENE: $1,000-1,060/tonne, up $10/tonne on the sell side
The spot market was quiet, with offers edging up in line with the US and Asia so far this month but no clear buying interest.

MTBE: $1,007-1,018/tonne, steady
No trades were heard during the open market session, prices have been assessed stable as a result.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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