NOON SNAPSHOT - Europe Markets Summary

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

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

CRUDE: April WTI: $101.58/bbl, down $0.65/bbl. April BRENT: $115.60/bbl, down $0.75/bbl
Venezuela’s offer of a peace plan to halt the violence in Libya led to a fall in crude futures. Earlier, Brent fell by more than $3/bbl before making a recovery.

NAPHTHA: $992-1,000/tonne, down $11/tonne
The cargo range slipped from the previous afternoon as a result of lower crude oil prices. March swaps were assessed at $989-991/tonne.

BENZENE: $1,360-1,375/tonne, down $5/tonne on the sell side
March was largely stable this morning. April remained backwardated at $1,315-1,330/tonne.

STYRENE: $1,525-1,535/tonne, steady
The market was quiet this morning, as players awaited the outcome of negotiations over the March barge contract. The range was unchanged.

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By: Staff Reporter
+44 20 8652 3214

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