NOON SNAPSHOT - Europe Markets Summary

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

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

CRUDE: April WTI: $99.87/bbl, down $2.83/bbl. April BRENT: $112.69/bbl, down $2.74/bbl
Crude oil prices dropped on the back of worries that demand from Japan could fall as the country suffered a strong earthquake which triggered a tsunami.

NAPHTHA: $966-974/tonne, down $7/tonne
The cargo range slipped from Thursday afternoon on the back of lower crude oil prices and a weaker crack spread. April swaps were assessed at $966-967/tonne.

BENZENE: $1,240-1,270/tonne, widening
March price ideas widened this morning in an uncertain market. April remained backwardated at $1,220-1,265/tonne.

STYRENE: $1,420-1,460/tonne, up $20/tonne on the sell side
March offers moved up this morning, and March later traded at $1,450/tonne. April was flat with March, and a deal was heard at $1,440/tonne.

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By: Staff Reporter
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