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 ?xml:namespace>
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.
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