NOON SNAPSHOT – Europe Markets Summary

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

CRUDE: June WTI: $96.13/bbl, down 68 cents/bbl. June BRENT: $112.91/bbl, down 29 cents/bbl
Crude oil futures weakened on Thursday after China published its monthly oil import and export data, which were below market expectations. Prices were also pressured by the ongoing political and economic uncertainty in the eurozone.

NAPHTHA: $904–912/tonne, down $2/tonne
The cargo range edged down from Wednesday afternoon as the effects of a weaker crack spread overrode those of slightly higher crude oil prices. June swaps were assessed at $905–907/tonne.

BENZENE: $1,240–1,260/tonne, up $5/tonne on the sell side
The market remains relatively steady amid balanced supply, firmer demand and the slight easing of crude and energy losses overnight. June was valued at $1,230–1,250/tonne.

STYRENE: $1,460–1,480/tonne, down $10/tonne
May was quiet and assessed lower amid bearish sentiment. June was valued at $1,450–1,465/tonne.