NOON SNAPSHOT – Europe Markets Summary

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

CRUDE: June WTI: $92.54/bbl, down 2 cents/bbl. July BRENT: $106.95/bbl, down 54 cents/bbl
Crude futures remained under downward pressure on Friday, with ICE Brent futures falling by more than $1/bbl at one stage, undermined by weak US economic data and heightened eurozone debt worries after the ratings downgrade of Spanish banks

NAPHTHA: $856–864/tonne, down $14/tonne
The cargo range lost ground from Thursday afternoon on the back of lower crude oil prices. June swaps were assessed at $855–857/tonne.

BENZENE: $1,170–1,190/tonne, down $15–20/tonne
The market was quiet this morning, although sentiment was still weak. June was backwardated, with offers at $1,170/tonne.

STYRENE: $1,390–1,400/tonne, steady
May was steady this morning, while June was offered at $1,400/tonne.