NOON SNAPSHOT - Europe Markets Summary

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

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

CRUDE: May WTI: $105.82/bbl, up $0.22/bbl. May BRENT: $115.71/bbl, down $0.01/bbl
Crude oil futures were being supported by further risk of unrest in the Middle East as more protests were planned in Yemen and Bahrain, while ongoing disruption affecting Libya kept oil supplies in the Mediterranean tight. However, as this upside was being countered by concerns over the eurozone debt crisis, Brent and WTI showed little change from Thursday’s closing levels.

NAPHTHA: $987–995/tonne, down $1/tonne
The cargo range edged down from Thursday afternoon due to lower crude oil prices. April swaps were assessed at $983–985/tonne.

BENZENE: $1,190–1,210/tonne, steady
The aromatics complex was very quiet as many industry players headed to the NPRA meeting at San Antonio in the US. Benzene prices for March and April were valued at $1,190–1,210/tonne CIF ARA.

STYRENE: $1,467–1,480/tonne, down $5–8/tonne
The styrene market was quiet owing to the absence of many industry participants. However, those that were available valued March styrene at $1,467–1,480/tonne FOB Rotterdam, with April at $1,475–1,500/tonne.

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By: Staff Reporter
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