LONDON (ICIS)--Here is Tuesday’s end of day European oil and chemical market summary from ICIS.
CRUDE: September WTI: $97.57/bbl, down 72 cents/bbl. September BRENT: $104.37/bbl, down $1.04/bbl
Crude oil futures weakened late on Tuesday pressured by the ongoing supply overhang and tepid demand from refiners.
NAPHTHA: $864-866/tonne, down $24/tonne
The cargo range was assessed down from earlier in the day. There were no trades in the open market platform.
September swaps were assessed at $860-862/tonne.
BENZENE: $1,360-1,400/tonne, steady
The spot market remained quiet and the wide bid/offer range for August kept trading activity limited. September was valued at $1,340-1,380/tonne.
STYRENE: $1,595-1,615/tonne, down $5/tonne on the buy side
Offers for August and September were steady throughout the day, and there were bids at $1,595/tonne in a thin market overall.
TOLUENE: $1,130-1,160/tonne, steady
The spot market was quiet and the range was unchanged. One European supplier confirmed today that it had settled August contracts at $1,139/tonne FOB NWE. August contracts had also previously been agreed at $1,138/tonne and $1,140/tonne, down $38-40/tonne from last month’s settlement range.
MTBE: $1,175/tonne, up $35/tonne on the low end, up $5/tonne on the high end
Prices increased with one deal heard during open market trading. The MTBE factor against Eurobob gasoline cash barges was assessed at 1.26-1.27.
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