EVENING SNAPSHOT Europe Markets Summary

07 February 2014 17:36 Source:ICIS News

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

CRUDE: March WTI: $98.22/bbl, up 38 cents/bbl. March BRENT: $107.95/bbl, up 76 cents/bbl
Crude futures gained late on Friday finding support from a US jobs report showing another drop in unemployment levels indicating further strengthening of the economy that could lead to more demand for oil.

NAPHTHA: $911-912/tonne, up $6/tonne on the low end, up $5/tonne on the high end
The cargo range traded up from earlier in the day. There were two trades in the open market platform. March swaps were assessed at $911-913/tonne.

BENZENE: $1,415-1,435/tonne, up $15/tonne on the buy side
Bids for February moved higher this afternoon, while the first half of the month was still reported at a premium with a range of $1,430-1,450/tonne seen. Offers for March came down to $1,380/tonne.

STYRENE: $1,590-1,610/tonne, down $5-20/tonne
February eased slightly in a quiet market, before a deal was done at $1,595/tonne. March traded at $1,635/tonne.

TOLUENE: $1,130-1,140/tonne, steady
The spot market was quiet and the bid/offer range for February was steady. European February contracts were confirmed at $1,130-1,135/tonne FOB NWE this week, an increase of $20-23/tonne from the previous month.

MTBE: $1,109/tonne, up $35-37/tonne
Prices increased with one deal reported during open market trading. The MTBE factor against Eurobob gasoline cash barges was assessed at 1.18-1.19.

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By Staff Reporter