Editor Shelley Kerr, shelley.kerr@icis.com

  NOTE: For full details on the criteria ICIS pricing uses in making these price assessments visit www.icispricing.com and click on “methodology”.

In the European spor hexane market this week, fundamentals remained balanced.

A producer remarked that less volatile feedstock price movement during the week meant that vessel prices for hexane had remained stable within a range of $1,290-1,350/tonne FOB Rdam.

Another producer said that truck prices remained unchanged within a range of €950-990/tonne FD NWE, as smaller movements within the feedstock markets had little or no effect on hexane prices.

Upstream, European naphtha’s weekly price range was assessed between $1,098-1,180/tonne CIF NWE and on Friday afternoon the range was $1,170-1,180/tonne. As crude oil remained volatile, particularly during the end of the week, there was little reported in the physical market. However, the arb to the East remained open and one market participant said a few cargoes had moved from the Med. It was estimated that during the week a European major and a global trader sold several cargoes destined for Asia, but details were sketchy.

The upside trend in crude oil futures continued for the week to 11 July. Brent and WTI front month contracts spiked on Friday to trade for the first time ever above $147/bbl. Escalating tensions between Iran and Israel, renewed threats to Nigeria’s oil facilities and a dip in the US dollar were the main factors driving the market.

($1 = €0.63)

(€1 = £0.80)

Covering editor: Sarah Trinder

This week on ICIS news ( www.icis.com):

11-Jul-08 07:29 Asia naphtha spreads narrow by $6/t on demand

11-Jul-08 06:32 Asia petchems rise on crude surge

10-Jul-08 18:44 PetroChina taps UOP for refining complex tech

08/07/2008 INSIGHT: BASF will develop syngas opportunities

The Chemical Purchasing Summit

17th & 18th September 2008, Boston, USA

www.icis.com/chemicalpurchasing