EVENING SNAPSHOT Europe Markets Summary

06 March 2014 17:37 Source:ICIS News

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

CRUDE: April WTI: $101.28/bbl, down 17 cents/bbl. April BRENT: $107.72/bbl, down 4 cents/bbl
Crude futures eased on Thursday after the parliament of the Crimea region voted to breakaway from Ukraine and join Russia. The autonomous republic of Crimea is expected to hold a referendum on 16 March.

NAPHTHA: $903-905/tonne, down $3/tonne on the low end, down $2/tonne on the high end
The cargo traded down from earlier in the day. There were no trades in the open market platform.
March swaps were assessed at $885-887/tonne.

BENZENE: $1,375-1,395/tonne, steady
The market was quiet this afternoon and the range for March was unchanged.

STYRENE: $1,575-1,585/tonne, down $15/tonne
Offers for March gradually edged lower throughout the day. April remained in contango $1,585-1,600/tonne. There were reports of increased demand seen in the distribution market, with one source noting that it was already hitting monthly volume targets this week.

TOLUENE: $1,120-1,150/tonne, steady
The spot market was quiet and the bid/offer range was steady. There was talk of imports into Europe arriving by mid-to-late March, but no price ideas were heard so far.

MTBE: $1,141/tonne, down $4/tonne on the low and $22/tonne on the high
The methyl tertiary butyl ether (MTBE) price fell on one open market trade. Eurobob gasoline deals were done at $941/tonne, giving an MTBE factor against cash barges of 1.21.

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By Staff Reporter