NOON SNAPSHOT – Europe Markets Summary

18 July 2012 12:00  [Source: ICIS news]

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

CRUDE: August WTI: $88.80/bbl, down 42 cents/bbl. September BRENT: $103.70/bbl, down 30 cents/bbl
Prices remained weak after the US Federal Reserve failed to signal any plans to boost the flagging economy. Traders were now waiting on the weekly US stock data from the Energy Information Administration (EIA).

NAPHTHA: $851-853/tonne, down $3/tonne
The cargo range edged down as a result of a weaker crack spread. August swaps were assessed at $843-845/tonne.

BENZENE: $1,350-1,400/tonne, down $30/tonne on the buy side
July offers were steady at $1,400/tonne although buying appetite remains subdued. August was valued at $1,325-1,355/tonne.

STYRENE: $1,380-1,410/tonne, steady
The market was quiet as players remain wary of the continued bullishness seen for benzene.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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