NOON SNAPSHOT – Europe Markets Summary

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

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

CRUDE: August WTI: $79.22/bbl, up 1 cents/bbl. August BRENT: $91.58/bbl, up 57 cents/bbl
Crude oil futures were trading in positive territory on Tuesday supported by expectations that US crude oil stocks declined in the previous week. However, prices were capped by Spain and Cyprus’ requests for financial aid.

NAPHTHA: $717-725/tonne, up $28/tonne
The cargo range made gains from Monday afternoon, driven by higher crude oil prices and a stronger crack spread. July swaps were assessed at $719-720/tonne.

BENZENE: $1,155-1,175/tonne, down $15/tonne on the sell side
Offers for any July delivery were at $1,175/tonne this morning but there were no corresponding bids. There were unconfirmed deals for July done at $1,160/tonne and $1,165/tonne. August was valued at $1,045-1,085/tonne.

STYRENE: $1,270-1,310/tonne, down $5-10/tonne
July was lower this morning amid ongoing bearishness.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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