NOON SNAPSHOT – Europe Markets Summary

25 June 2012 12:00  [Source: ICIS news]

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

CRUDE: August WTI: $78.91/bbl, down 85 cents/bbl. August BRENT: $90.03/bbl, down 95 cents/bbl
Crude oil futures weakened on the back of rising concerns over Spain’s economy after the country's government made an official request for financial aid for its banking sector.

NAPHTHA: $696-704/tonne, up $13/tonne
The cargo range increased on a strengthening crack spread. July swaps were assessed at $695-697/tonne.

BENZENE: $1,150-1,250/tonne, up $20-50/tonne
July prices are higher for the first half of the month at $1,165-1,250/tonne CIF ARA. Any July was valued at $1,150-1,220/tonne. The range marks a delta change of plus $20-50/tonne. August benzene was heavily backwardated at $1,060-1,110/tonne.

STYRENE: $1,275-1,325/tonne, range widens
The market started on a quiet note, with little in the way of buying or selling interest. July was up slighty on the offer at $1,325/tonne. August was valued at $1,250-1,300/tonne.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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