EVENING SNAPSHOT Europe Markets Summary

16 December 2013 17:25 Source:ICIS News

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

CRUDE: January WTI: $97.29/bbl, up 69 cents/bbl. January BRENT: $110.55/bbl, up $1.72/bbl
Crude oil futures strengthened, finding support from the ongoing shutdown of eastern Libyan ports including Es Sider, Ras Lanuf and Zueitina. Prices were also supported by positive Purchasing Managers’ Index data from the eurozone.

NAPHTHA: $956-958/tonne, up $1/tonne. 
The cargo range was assessed up. There were no trades in the open market platform. January swaps were assessed at $944-946/tonne.

BENZENE: $1,335-1,355/tonne, down $5-10/tonne
Bids and offers were lower in afternoon trading in a quiet market. December prices are at $1,335-1,355/tonne. January prices are backwardated at $1,330-1,345/tonne.

STYRENE: $1,650-1,675/tonne, steady
The market was subdued in afternoon trading and the bid/offer range was steady with values heard earlier in the day.

TOLUENE: $1,090-1,110/tonne, steady
Spot activity was muted and the range was unchanged in an illiquid market.

MTBE: $1,026-1,036/tonne, steady
There were no trades during the open market session, prices have been assessed stable as a result.

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By Staff Reporter