LONDON (ICIS)--Here is Monday evening’s European oil and chemical market summary from ICIS.
CRUDE: October WTI: $95.63/bbl, down 33 cents/bbl. October BRENT: $102.62/bbl, down 57 cents/bbl
Crude futures were traded in negative territory, pressured by bearish data emerging from China.
NAPHTHA: $870-872/tonne, down $3-4/tonne
The cargo range traded softer. There were two trades in the open market platform. October swaps were assessed at $870-872/tonne.
BENZENE: $1,370-1,380/tonne, narrowing
The range for September narrowed, while bids for the first half of the month were slightly firmer at $1,375/tonne. October remained backwardated at $1,350-1,370/tonne.
STYRENE: $1,565-1,575/tonne, up $5/tonne on the buy side
September bids edged up to $1,565/tonne. October was valued at $1,570-1,585/tonne.
TOLUENE: $1,060-1,090/tonne, steady
The spot market was quiet and the bid/offer range was unchanged. There was so far no news regarding September contracts, with the holiday period adding some delay to negotiations.
MTBE: $1,188-1,195/tonne, down $21/tonne on the low side, down $16/tonne on the high side
Prices declined with three deals heard during open market trading. The MTBE factor against Eurobob gasoline cash barges was assessed at 1.24-1.25.
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EVENING SNAPSHOT Europe Markets Summary
01 September 2014 17:16 Source:ICIS News