NOON SNAPSHOT - Europe Markets Summary

16 June 2011 12:00  [Source: ICIS news]

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

CRUDE: July WTI: $94.67/bbl, down $0.14/bbl. August BRENT: $113.78/bbl, up $0.77/bbl
Earlier gains made in the futures market were wiped out as the US dollar strengthened against the euro. Prices earlier rose by more than $1/bbl after figures revealed a fall in US crude stocks.

NAPHTHA: $928-936/tonne, down $29/tonne
The cargo range suffered losses from Wednesday afternoon due to lower crude oil prices. July swaps were assessed at $931–932/tonne.

BENZENE: $1,115-1,130/tonne, steady
Prices in Europe were steady despite an increase in Brent crude. Since the majority of participants in the European aromatics complex were attending the EPL meeting in Copenhagen, bids and offers were scarce.

STYRENE: $1,360-1,390/tonne, steady
Prices in Europe were steady since most market players were attending the EPL meeting.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
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