EVENING SNAPSHOT Europe Markets Summary

08 November 2013 17:32  [Source: ICIS news]

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

CRUDE: Dec WTI: $94.45/bbl, up 25 cents/bbl. Dec BRENT: $104.23/bbl, up 77 cents/bbl
Crude futures gained, supported by better-than-expected export data from China. Prices were also supported by the worsening situation in Libya where only a handful of crude grades are being exported.

NAPHTHA: $908-909/tonne, up 11/tonne on the low end, up $10/tonne at the high end
The cargo range traded up from earlier in the day. There were five trades in the open market platform. December swaps were assessed at $891-892/tonne.

BENZENE: $1,160-1,180/tonne, up $5-10/tonne
The market edged up further in line with firmer naphtha values, while December was valued at $1,160-1,175/tonne. Activity remained thin, however.

STYRENE: $1,560-1,580/tonne, down $10-20/tonne
November traded at $1,575/tonne and $1,580/tonne. Offers moved down amid limited buying interest, and the November range was assessed lower. There was also a January deal done at $1,570/tonne and talk of a December deal at $1,580/tonne, although the latter was unconfirmed. December closed flat with November.

TOLUENE: $1,050-1,065/tonne, steady
The spot market was quiet and the range for November unchanged. After a bearish October, the market is showing signs of recovery, supported by renewed buying interest from the Middle East as well as firmer US numbers.

MTBE: $1,005-1,015/tonne, down $2-3/tonne
There were no trades during the open market session. Prices have been assessed lower on a factor basis of 1.14-1.15, given participant feedback.

For more pricing intelligence please visit ICIS pricing


By: Staff Reporter
+44 20 8652 3214



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