EVENING SNAPSHOT Europe Markets Summary

08 April 2014 17:35  [Source: ICIS news]

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

CRUDE: May WTI: $101.35/bbl, up 91cents/bbl. May BRENT: $106.35/bbl, up 53 cents/bbl
Crude futures were firm as Libyan exports showed little sign of resuming and Russia was again showing signs of causing further unrest in Ukraine.

NAPHTHA: $917-918/tonne, down $3-4/tonne
The cargo traded down from earlier in the day. There were three trades in the open market platform. May swaps were assessed at $894-896/tonne.

BENZENE: $1,465-1,480/tonne, down $5-10/tonne
April bids and offers continued to ease this afternoon, although the first half of the month was still higher with offers at $1,510/tonne. May was backwardated at $1,365-1,405/tonne, with the first half of the forward month also at a premium with a range of $1,390-1,430/tonne reported.

STYRENE: $1,620-1,640/tonne, steady
The spot market remained quiet throughout the day, and the range for April was unchanged. May was valued in a slight contango at $1,625-1,640/tonne.

TOLUENE: $1,080-1,120/tonne, up $30/tonne on the buy side
There was a spot deal heard earlier today at $1,095/tonne on a CIF basis, and the range was adjusted to reflect this. Despite losses in both the US and Asia, balanced regional availability has kept European numbers from falling significantly into Q2.

MTBE: $1,122-1,124/tonne, up $7-9/tonne
Prices increased with five deals taking place during open market trading. The MTBE factor against Eurobob gasoline cash barges was assessed at 1.13.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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