NOON SNAPSHOT – Europe Markets Summary

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

CRUDE: June WTI: $101.33/bbl, down $1.21/bbl. June BRENT: $115.11/bbl, down 97 cents/bbl
Crude oil futures were trading below Thursday’s settlement values, pressured by a bearish outlook for the global economy and expectations that the US non-farm payroll data due later will reveal disappointing results.

NAPHTHA: $935–943/tonne, down $18–19/tonne
The cargo range fell from Thursday afternoon on the back of lower crude oil prices and a softer crack spread. June swaps were assessed at $936–937/tonne.

BENZENE: $1,270–1,285/tonne, steady
The market was steady from Thursday’s close, with more bids than offers amid continued bullish sentiment.

STYRENE: $1,530–1,545/tonne, steady
Spot activity was subdued this morning and the range was unchanged. The May barge contract was agreed on Friday at €1,347/tonne FD NWE, up by €47/tonne, on higher feedstock costs.