NOON SNAPSHOT – Europe Markets Summary

02 May 2012 12:00  [Source: ICIS news]

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

CRUDE: June WTI: $105.74/bbl, down 42 cents/bbl. June BRENT: $119.37/bbl, down 29 cents/bbl
Crude futures traded in negative territory on a strengthening US dollar. However, upbeat manufacturing data from the US and China limited the downside pressure.

NAPHTHA: $975–983/tonne, up $1/tonne
The cargo range edged upwards as a strengthening crack spread overrode the effects of weaker crude oil values. June swaps were assessed at $972–974/tonne.

BENZENE: $1,265–1,280/tonne, up $10/tonne
May was higher this morning despite a dip in crude pricing, while June was valued at $1,255–1,270/tonne. July was also offered at $1,270/tonne.

STYRENE: $1,530–1,550/tonne, up $10/tonne
May edged up this morning alongside benzene, although the market was quiet as players awaited news of the monthly contract settlement. Bids for June were at $1,505/tonne.

For more pricing intelligence please visit ICIS pricing


By: Staff Reporter
+44 20 8652 3214



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