EVENING SNAPSHOT Europe Markets Summary

26 June 2014 18:00 Source:ICIS News

(adds styrene pricing information, paragraph 5)

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

CRUDE: August WTI: $105.25/bbl, down $1.25/bbl. August BRENT: $113.25/bbl, down 75 cents/bbl
Crude futures were sharply lower after the US Government reiterated that it would not be relaxing its 40-year old ban on crude exports, while easing concerns over possible disruption to Iraqi exports added further downward pressure

NAPHTHA: $958-961/tonne, down $5-6/tonne
The cargo range was assessed down from earlier in the day. There were no trades in the open market platform.
July swaps were assessed at $954-956/tonne.

BENZENE: $1,475-1,485/tonne, up $10-15/tonne
July bids were $15/tonne higher again in the afternoon, as Asia rebounded slightly in the afternoon session. Offers also rose $10/tonne. August was quoted at $1,405-1,430/tonne, up $10-15/tonne, as the backwardation narrowed.

STYRENE$1,630-1,650/tonne, up $7/tonne at the top end
July offers were up $7/tonne to return to Wednesday's close level. One participant said the market had been very unclear, with no real ranges. No deals were heard in a quiet day. August was at $1,640-1,655/tonne, with a narrower range.

TOLUENE: $1,130-1,140/tonne, unchanged
The toluene market continued to be quiet with no change to prices.

MTBE: $1,174-1,177/tonne, steady
Prices were assessed stable with no deals heard during open market trading.

For more pricing intelligence please visit ICIS pricing

By Staff Reporter