05 December 2013 17:56 [Source: ICIS news]
LONDON (ICIS)--Here is Thursday’s end of day European oil and chemical market summary from ICIS.
CRUDE: January WTI: $97.91/bbl, up 71 cents/bbl. January BRENT: $111.79/bbl, down 9 cents/bbl
NYMEX WTI crude oil futures remain supported by the draw in crude stocks last week. However, the ICE Brent market was pressured by poor demand for crude in Europe balanced by poor weather hitting the North Sea region.
NAPHTHA: $967-969/tonne, down $2/tonne.
The cargo range was assessed down. There were no trades in the open market platform today.January swaps were assessed at $945-947/tonne.
BENZENE: $1,365-1,390/tonne, down $5/tonne on the buy side
Bids for December were heard at $1,365/tonne but there were no corresponding offers in the market amid continued prompt pressure in Europe. January bids were at $1,335/tonne while bids for the first half of the month were higher at $1,340/tonne.
STYRENE: $1,630-1,650/tonne, down $15/tonne on the sell side
The market remained quiet and the offer level came down. January was valued at $1,630-1,670/tonne.
TOLUENE: $1,110-1,150/tonne, steady
The spot market was quiet and bid/offer range was unchanged. Bids were assessed marginally lower on the buy side this week following some price erosion in the US and a deal done at $3.70/gal DDP. This was counteracted by continued upward movement in Asia, however, where forward pricing for January and February breached the $1,200/tonne FOB Korea mark.
MTBE: $1,065/tonne, steady
Prices were assessed stable with no trades heard during the open window session.
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