– MOC offer seen at 206.50 cents/gal
– Discount to FOB ARA narrows
Spot Gulf Coast MTBE was assessed flat to NYMEX June RBOB as an offer in the Chemical Industry on Close assessment process set the ceiling for pricing. In the MOC assessment process, Lukoil came in with an offer at 208 cents/gal FOB USG for 45,000 barrels, walking it down to 206.50 cents/gal. No bids or trades were seen. While spot remained flat to RBOB, the discount to the FOB ARA marker narrowed to 17.22 cents as European Chemical Industry MTBE saw a noticeable drop in pricing. On Thursday, the FOB ARA marker fell nearly 11 cents to 223.69 cents/gal FOB ARA amid heavy selling.
S&P Global assessed spot USG MTBE at 206.47 cents/gal FOB USG, down 4.03 cents on the day. The assessment came below an offer in the Chemical Industry on Close assessment process and was flat to the assessment of NYMEX June RBOB.