NOON SNAPSHOT - Europe Markets Summary

LONDON (ICIS)--Here is Friday's midday European oil and chemical market summary from ICIS.

CRUDE: October WTI: $74.62/bbl, down $0.41/bbl. October BRENT: $76.62/bbl, down $0.31/bbl
Crude prices lost ground in anticipation of negative employment data from the US and the upcoming Labor Day holiday weekend there.

NAPHTHA: $673-681/tonne, up $1/tonne
The cargo market was assessed up from the previous afternoon, in line with higher crude figures and despite a weaker crack spread. September swaps were pegged at $667-669/tonne.

BENZENE: $885-895/tonne up $10/tonne
European benzene prices moved up as a result of higher prices in the US and Asia. September was valued at $885-895/tonne, up $10/tonne. October at $890-900/tonne, up $15/tonne.

STYRENE: $1,095-1,110/tonne up $15-20/tonne
A flurry of styrene deals were recorded in morning trading, lifting the September and October bid/offer ranges. September styrene was valued at $1,095-1,110/tonne, up $15-20/tonne. October was pegged at $1,100-1,115/tonne. Deals were heard at $1,100-1,105/tonne for September and at $1,105-1,110/tonne for October. Higher numbers and concerns about availability in the US lead the gains.