Europe MTBE prices increase on higher factor level

04 July 2014 17:30 Source:ICIS News

LONDON (ICIS)--European methyl tertiary butyl ether (MTBE) values continued on an upward trajectory this week, with higher levels of demand causing the factor level to increase, ICIS data showed on Friday.

The MTBE factor against Eurobob gasoline cash barges climbed to 1.15-1.16, from 1.11 last week.

MTBE prices were at $1,203-1,205/tonne FOB (free on board) AR (Amsterdam-Rotterdam) on Friday, levels not seen since August 2013.

One producer said that supply was starting to tighten in the Mediterranean in particular, with higher demand seen from that region owing to increased gasoline consumption.

MTBE values are expected to climb higher, with improved demand from gasoline blenders anticipated during July.

By Neha Popat