NOON SNAPSHOT - Europe Markets Summary

28 February 2011 12:00  [Source: ICIS news]

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

CRUDE: April WTI: $97.95/bbl, up $0.07/bbl. April BRENT: $112.07/bbl, down $0.07/bbl
Brent futures traded in marginally negative territory over reports that Iraq had restored its oil outputs after recent bad weather. However, the markets remained supported by heightened concerns over global oil supply disruptions, as political upheavals continued in Libya and other parts of the Middle East and North Africa.

NAPHTHA: $941-949/tonne, up $2/tonne
The cargo range edged up from Friday afternoon as the crack spread firmed slightly. March swaps were assessed at $946-948/tonne.

BENZENE: $1,335-1,365/tonne, widening
March bids and offers widened this morning in an uncertain market. There was no firm range seen for April yet.

STYRENE: $1,520-1,530/tonne, narrowing
March traded at $1,525/tonne this morning, and the range narrowed to reflect this.

Click here for more pricing intelligence

By: Staff Reporter
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