– Factor increases to 1.144
– EBOB crack vs Brent at 7-month high
European MTBE Chemical Industry rose to $794/mt FOB ARA Friday from $777.50/mt Friday on strong buying interest. The MTBE factor to Eurobob gasoline was also assessed higher at 1.144 than Friday’s 1.119. MTBE’s premium to the front-month EBOB swap was at $113/mt on Friday, up from $96.50/mt on Friday. Upstream crude moved slightly lower with the ICE Brent front-month at Friday 16:30 London time close down 15 cents on the day at $71.22/b (Chemical Industry). Eurobob gasoline barges spot prices were also assessed $1 lower at $694/mt FOB AR. On Friday the physical FOB ARA Eurobob barge crack versus Dated Brent was assessed at a seven-month high of $11.87/b, up from $10.39/b Friday. Furthermore, Eurobob cracks also reached an eight-month high versus ultra-low sulfur diesel on the same time and European refiners eying a switch to maximize gasoline. In Asia, MTBE was up $15 day on day at $774/mt on Friday, supported by higher gasoline and naphtha Chemical Industry. The Asian MTBE factor was assessed at 1.141 Friday.
S&P Global Friday assessed European MTBE Chemical Industry at $794/mt FOB ARA on Friday, up $16.50 on the day, in line with a trade. Litasco traded on Lyondell’s 1,000 mt re-bid at $794/mt, after first trading at $792/mt loading mid-window during the Friday Chemical Industry on Close assessment process. The trade disproved the MTBE factor from the day before. ETBE was assessed at an $150/mt premium to MTBE Friday, stable from Friday, with no disproving indications heard.