MTBE
premium stable at $120/mt Crude
oil falls on news of rising January OPEC+ productionThe European MTBE price dropped on Dec.
2, due to losses in crude oil and upstream gasoline prices. The FOB Amsterdam-Rotterdam-Antwerp MTBE premium to
front-month Euro bob gasoline barges at $120/mt- $160/mt, unchanged from the
previous appraisal. On the other hand,
spot prices fell all over the day. At 4:30
PM London time on Dec. 2, the European MTBE FOB ARA was at $746.75/mt - $768.75/mt on Dec. 1. The blending economy in Northwest
Europe remains unfavorable, which negatively impacted the demand for MTBE. At London's close, the gasoline-naphtha difference spread between front-month naphtha prices and front-month EBOB gasoline swap
prices was around $10.25/mt-$13.50/mt. Prices
in the region were supported by tight MTBE supplies across the Atlantic. Sources in the US suggested that...