NOON SNAPSHOT - Europe Markets Summary

05 December 2008 12:00  [Source: ICIS news]

LONDON (ICIS news)--Here is Friday’s midday European oil and chemical market summary from ICIS pricing.

CRUDE: January WTI: $44.45/bbl, up $0.77/bbl. January BRENT: $43.15/bbl, up $0.87/bbl

Having fallen sharply in early hours’ trading, prices regained ground as traders engaged in pre-weekend profit-taking.

NAPHTHA: Open spec spot cargoes were assessed in a range of $258-268/tonne CIF (cost, insurance and freight) NWE (northwest Europe), up $5/tonne on the buy-side of the range set at the end of trading on Thursday. December swaps were pegged at $258-260/tonne CIF NWE.

BENZENE: Bid/offer indications for December loading benzene were heard at $190-210/tonne CIF ARA (Amsterdam, Rotterdam, Antwerp), up $10/tonne on the offer from the previous close. January was talked within a $225-245/tonne CIF ARA range.

STYRENE: December loading styrene offers were heard at $535/tonne FOB (free on board) Rotterdam, down $15/tonne from the previous close. No buyers were heard, and bids were pegged at $515/tonne FOB Rotterdam. January was talked at $535-560/tonne FOB Rotterdam.

TOLUENE: Bid/offer indications for December loading toluene were heard within a $400-415/tonne FOB Rotterdam range.

MTBE: MTBE was bid and offered at a factor of 1.42-1.47 for December delivery, with January material pegged at 1.25-1.37. Gasoline traded at $337-339/tonne FOB AR (Amsterdam Rotterdam), pegging flat MTBE prices for December at $479-498/tonne FOB AR.

XYLENES: The European PX market was quiet and price ideas were unchanged at $500-550/tonne FOB Rotterdam.

For more pricing intelligence please visit ICIS pricing

ICIS Copyright © Reed Business Information 2009

Author: Staff Reporter
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