NOON SNAPSHOT – Europe Markets Summary

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

CRUDE: July WTI: $91.07/bbl, up 41 cents/bbl. July BRENT: $106.93/bbl, up 38 cents/bbl
Crude oil futures gained, supported by the lack of an outcome from talks between the UN Security Council’s atomic energy watchdog and Iran.

NAPHTHA: $826-834/tonne, up $5/tonne
The cargo range climbed, driven by higher crude oil prices. June swaps were assessed at $837-838/tonne.

BENZENE: $1,300-1,320/tonne, up $20/tonne
Values for any June delivery opened higher as tight sentiment prevailed, with talk of several production problems keeping players bullish. The first half of the month was higher at $1,370-1,400/tonne, while July is heavily backwardated at $1,180-1,200/tonne.

STYRENE: $1,470-1,490/tonne, up $50-55/tonne
June was valued higher as benzene continued to gain ground amid talk of production problems in Europe.