EVENING SNAPSHOT Europe Markets Summary

04 April 2014 17:13  [Source: ICIS news]

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

CRUDE: May WTI: $101.37/bbl, up $1.08/bbl. May BRENT: $106.80/bbl, up 65 cents/bbl
Crude futures gained late on Friday on the back of the US' non-farm payroll report showing the country added 192,000 jobs in March, although the figure was slightly below some forecasts. Prices also gained supported by firmer European stock indices trading in positive territory.

NAPHTHA$920.50-921.00/tonne, down by $0.50-2.00/tonne
The cargo price range eased off slightly from the earlier assessment on two deals done. May swaps were assessed at $893-895/tonne.

BENZENE: $1,485-1,500/tonne, narrowing
April bids and offers narrowed this afternoon while the range for prompt delivery edged up to $1,500-1,535/tonne. However, some players were sceptical of the higher numbers and whether physical product was trading at these levels. May was valued at $1,410-1,425/tonne, and there was talk of a first-half May deal done at $1,440/tonne.

STYRENE: $1,620-1,645/tonne, down $5/tonne on the sell side
April offers later came down to $1,645/tonne in a subdued market. With talk of ample imports arriving into Europe from the US by the end of April into May, styrene prices are likely to struggle to gain ground in tandem with feedstock benzene. May was steady, closing at $1,620-1,650/tonne.

TOLUENE: $1,080-1,145/tonne, steady
The spot market was quiet and the bid/offer range was unchanged. Offers were last heard at $1,145/tonne on a CIF basis. Balanced regional availability is keeping the offer level relatively firm, although buying interest remains limited. April toluene contracts were confirmed this week between a range of $1,114-1,117/tonne FOB NWE, down $10-11/tonne from the previous month.

MTBE: $1,108-1,124/tonne, up $19-35/tonne
Prices climbed with three deals heard taking place during open market trading. The MTBE factor against Eurobob gasoline cash barges was assessed at 1.12-1.14.

For more pricing intelligence please visit ICIS pricing.

 


By: Staff Reporter
+44 20 8652 3214



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