NOON SNAPSHOT - Europe Markets Summary

24 November 2010 12:00  [Source: ICIS news]

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

CRUDE: January WTI: $81.75/bbl, up $0.50/bbl. January BRENT: $83.82/bbl, up $0.57/bbl
Futures posted gains as expectations that this week’s US government stock data, scheduled to be released later in the day, would show falls on crude and products outweighed the negative effect of a weakening euro against the US dollar.

NAPHTHA: $755-765/tonne, up $7/tonne
The cargo range was assessed higher from Tuesday as crude oil futures recovered. December swaps were also assessed higher at $755-756/tonne.

BENZENE: $940-960/tonne, down $10-20/tonne
November was offered at $960/tonne this morning, but there were no corresponding bids. December was valued at $940-960/tonne.

STYRENE: $1,160-1,180/tonne, steady
December bids were at $1,160/tonne this morning but were not met with any corresponding offers in a thin market. November was assessed flat with December.

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By: Staff Reporter
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