02 August 2012 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Thursday’s midday European oil and chemical market summary from ICIS.
CRUDE: September WTI: $89.50/bbl, up 59 cents/bbl. September BRENT: $107.08/bbl, up $1.12/bbl
Crude oil futures gained on Thursday on hopes that the European Central Bank will act to stimulate the eurozone economy.
NAPHTHA: $856–858/tonne, up $3/tonne
Assessed cargo values increased on firmer crude oil prices. September swaps were assessed at $857–859/tonne.
BENZENE: $1,290–1,320/tonne, up $20/tonne on the sell side
August was offered higher this morning at $1,320/tonne. The first half of the month was higher at $1,305–1,345/tonne. September was backwardated at $1,225–1,250/tonne.
STYRENE: $1,465–1,485/tonne, up $15/tonne
The market was quiet ahead of the monthly barge settlement. August bids were at $1,465/tonne but not met with any offers. September bids were lower at $1,460/tonne.
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