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 ?xml:namespace>
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.
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