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EVENING SNAPSHOT – Europe Markets Summary

ICIS News : 7-Dec-12 17:22

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

CRUDE: January WTI: $86.10/bbl, down 16 cents/bbl. January BRENT: $106.96/bbl, down 7 cents/bbl
Crude oil futures weakened, pressured by ongoing disagreements over the US budget. However, the fall was capped by better-than-expected non-farm jobs data from the US.

NAPHTHA: $922-923/tonne, down $8-9/tonne
The cargo range lost ground as a result of lower crude oil prices and a softer crack spread. There were two trades this afternoon.  January swaps were assessed at $903-905/tonne.

BENZENE: $1,440-1,450/tonne, down $15-25/tonne
The market softened further amid weaker energy numbers and lower demand for the current month. January was valued at $1,445-1,470/tonne.

STYRENE: $1,550-1,565/tonne, steady
December traded at $1,550/tonne. There was also a deal heard at $1,540/tonne but this was not confirmed. Offers for December were steady at $1,565/tonne while January was valued at $1,565-1,590/tonne.

TOLUENE: $1,280-1,320/tonne, steady
The market remained quiet, and the December range was unchanged. Weak demand is keeping buyers below $1,300/tonne while sellers remain unwilling to follow amid bullish energy numbers. December contracts were confirmed at $1,295/tonne and $1,297/tonne FOB NWE, down $30-38/tonne from the previous month.

MTBE: $1,110-1,111/tonne, no change
There were no MTBE deals reported in open market trading. EuroBob gasoline traded in the range $921-938/tonne.

For more intelligence pricing please visit ICIS pricing

By Staff Reporter
+44 20 8652 3214

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