03 May 2012 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Thursday’s midday European oil and chemical market summary from ICIS.
CRUDE: June WTI: $104.88/bbl, down 34 cents/bbl. June BRENT: $117.71/bbl, down 49 cents/bbl
Crude oil futures weakened on Thursday, pressured by ongoing concerns over the health of the global economy. The larger than expected build in US crude stocks last week also exerted further downward pressure on prices.
NAPHTHA: $971–979/tonne, up $4/tonne
The cargo range edged up from Wednesday afternoon, driven by a slightly stronger crack spread. June swaps were assessed at $968–969/tonne.
BENZENE: $1,280–1,290/tonne, up $10/tonne on the buy side
May bids opened higher this morning, while June was backwardated at $1,265–1,285/tonne.
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