EVENING SNAPSHOT Europe Markets Summary

15 November 2013 17:21  [Source: ICIS news]

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

CRUDE: December WTI: $93.71/bbl, down 5 cents/bbl. January BRENT: $108.04/bbl, down 24 cents/bbl
Crude futures edged lower pressured by a lack of demand for physical crude, as refining margins remain lacklustre. Protestors were heard to have entered the Mellitah oil port in Libya on Friday, shutting down the complex.

NAPHTHA: $918-921/tonne, down $19-20/tonne 
The cargo range lost ground on the back of a weaker crack spread and softer crude oil prices. Two trades took place in the open market platform. December swaps were assessed at $913-915/tonne.

BENZENE: $1,245-1,260/tonne, up $30/tonne
The market edged up, with bids for November reaching $1,230/tonne while offers were at $1,235/tonne. December traded at $1,230/tonne and the range for both months closed at $1,245-1,260/tonne on continued bullishness.

STYRENE: $1,585-1,595/tonne, up $30/tonne on the buy side
Bids rose and the market moved into contango, with December offers at $1,605/tonne while November was $10/tonne lower. November traded twice at $1,585/tonne this afternoon, while December traded at $1,590/tonne before offers moved down to $1,600/tonne.

TOLUENE: $1,075-1,115/tonne, up $15-35/tonne
Offers moved as high as $1,115/tonne this week alongside balanced to tight domestic availability and pull for material from other regions. Bids reached $1,075/tonne but there was no business confirmed.

MTBE: $1,030-1,047/tonne, steady
Despite producer attempts to increase MTBE prices with higher offers into the market, no trades or bids were heard during the open window session.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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