01 March 2011 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Tuesday’s midday European oil and chemical market summary from ICIS.
CRUDE: April WTI: $97.26/bbl, up $0.29/bbl. April BRENT: $112.36/bbl, up $0.56/bbl
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NAPHTHA: $947-955/tonne, down $4/tonne
The cargo range slipped slightly from Monday afternoon as the effects of a stronger crack spread were overridden by those of lower crude oil prices. March swaps were assessed at $952-954/tonne.
BENZENE: $1,365-1,385/tonne, up $20-30/tonne
March bids and offers moved up following the CP settlement at $1,378/tonne. April remained backwardated at $1,315-1,345/tonne.
STYRENE: $1,530-1,545/tonne, up $5-10/tonne
March was firmer this morning in line with benzene gains and continued buoyancy for crude futures. There was no clear range for April discussed yet.
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