Europe MTBE edges down on weaker upstream energy values

18 July 2014 17:19 Source:ICIS News

LONDON (ICIS)--European methyl tertiary butyl ether (MTBE) values edged down from the highs seen last week owing to weaker gasoline values, ICIS data showed on Friday.

A total of 14 deals were seen during the open market trading platform, but sources noted very little activity taking place outside of it, with a number of participants absent from the market due to holidays.

Demand remains strong from the Mediterranean, one producer said, added that there remains very little supply in the region.

Demand has yet to pick up in continental Europe, and the producer noted cargoes moving southbound from northwest Europe as a result.

The MTBE factor against Eurobob gasoline cash barges edged up to 1.18, from last week’s levels of 1.17.

Prices were at $1,156 FOB (free on board) AR (Amsterdam-Rotterdam) on Friday, down $54/tonne from 11 July.

By Neha Popat