Bidding interest was seen in Platts MOC
processImproving blending margins



The European
MTBE and ETBE Outright values edged lower on February 8, due to weakening
gasoline prices despite the bidding interest. The
MTBE FOB ARA mark fell from $19.50/mt-$19.65/mt to $1,014.25/mt - $1,030/mt on
February 8, which was higher than the bid level in the market during the Close
process. The European MTBE premium to
March. Eurobob barges were assessed at $159.75/mt-$159.85/mt, up 3.75/mt-3.85/mt,
on February 8. Even though buyers were
keen to receive front- and middle-window deliveries, there was no matching of
offering activity. The gasoline premium
over naphtha has increased to $38.75/mt-$38.90/mt by February 8, an increase of
$7.50/mt-$9.65/mt and up from the $30.35/mt-$30.55/mt average five days ago. This was due to improved blending economics for high octane
ingredients such as MTBE or...