LONDON (ICIS)--Here is Tuesday’s end of day European oil and chemical market summary from ICIS.
CRUDE: June WTI: $100.12/bbl, up 64 cents/bbl. June BRENT: $107.70/bbl, down 2 cents/bbl
WTI crude oil futures extended gains late on Tuesday as the US balance of trade improved in March on the back of an increase in exports, a report said. Brent eased amid fresh concerns over deflation in the euro area after the OECD highlighted the issue in a bi-annual report.
NAPHTHA: $924-926/tonne, down $1-2/tonne
The cargo was assessed down on a fall in ICE Brent crude oil futures from earlier in the day.
June swaps were assessed at $902-904/tonne.
BENZENE: $1,400-1,425/tonne, down $5-10/tonne
Price ideas for May continued to come down this afternoon, with imports arriving from other regions likely to ease the recent tightness seen in Europe. However, with derivative demand picking up in key sectors, this could counteract any supply improvements. There is still a premium for the first half of the month, with a range of $1,415-1,440/tonne heard.
STYRENE: $1,630-1,650/tonne, steady
The spot market was quiet and the bid/offer range for May was unchanged. June was valued at $1,620-1,640/tonne.
TOLUENE: $1,120-1,135/tonne, steady
The spot market was quiet and the bid/offer range was assessed steady.
MTBE: $1,087/tonne, down $28/tonne
Prices have been assessed lower on offers heard during open market trading. No bids or trades were heard taking place.
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