NOON SNAPSHOT - Europe Markets Summary

02 March 2011 12:00  [Source: ICIS news]

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

CRUDE: April WTI: $99.86/bbl, up $0.23/bbl. April BRENT: $115.44/bbl, up $0.02/bbl
Futures traded at levels close to two-and-a-half year highs, as reports of Libyan government counter-attacks on rebels in the country fuelled fears of a civil war and added to ongoing concerns of increased disruption to supplies from the OPEC member.

NAPHTHA: $982-990/tonne, up $11/tonne
The cargo range climbed from Tuesday afternoon due to higher crude oil prices. March swaps were assessed at $979-981/tonne.

BENZENE: $1,370-1,380/tonne, up $15/tonne
March traded twice at $1,375/tonne this morning, the market boosted by continued strength for crude futures, and there was an unconfirmed deal heard at $1,380/tonne.

STYRENE: $1,525-1,545/tonne, up $15/tonne
March was firmer this morning on the back of upstream buoyancy. There was no firm April range discussed yet, and the market was relatively quiet as players awaited news of the March contract settlements.

Click here for more pricing intelligence

By: Staff Reporter
+44 20 8652 3214

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