NOON SNAPSHOT - Europe Markets Summary

03 July 2009 12:00  [Source: ICIS news]

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

CRUDE: August WTI: $66.55/bbl, down $0.18/bbl. August BRENT: $66.41/bbl, down 0.24/bbl

The oil markets were trading slightly in negative territory for most of the session. A firmer US dollar and worse-than-expected US jobs data were keeping the markets below the previous closes.

NAPHTHA: Open-spec spot cargoes were assessed in a $559-569/tonne CIF (cost, insurance and freight) NWE (northwest Europe) range, down by $10/tonne on the buy side of the range set at the end of trading on 2 July. July swaps were pegged at $559-560/tonne CIF NWE.

BENZENE: There were no firm bids or offers heard for July this morning, and the range was stable at $950-970/tonne CIF ARA (Amsterdam, Rotterdam, Antwerp)

STYRENE: A bid/offer range for July styrene was heard this morning at $1,080-1,100/tonne FOB (free on board) Rotterdam, up from previous levels by $15-20/tonne. Deals were heard at $1,085/tonne and $1,090/tonne. August was talked at $1075-1100/tonne.

TOLUENE: There were no firm bids or offers heard for toluene this morning, and the range was stable at $685-742/tonne FOB Rotterdam.

MTBE: Sources this morning gave a notional factor range against gasoline barges of 1.26-1.31 in the absence of bids and offers. Gasoline traded at $595-601/tonne FOB AR (Amsterdam, Rotterdam), placing the flat price range for MTBE at $750-787/tonne FOB AR.

XYLENES: The PX market was quiet this morning, and the range was unchanged at $840-870/tonne FOB Rotterdam.

For more pricing intelligence please visit ICIS pricing

ICIS Copyright © Reed Business Information 2009

Author: Staff Reporter
+44 20 8652 3214

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