NOON SNAPSHOT – Europe Markets Summary

31 August 2012 12:00  [Source: ICIS news]

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

CRUDE: October WTI: $94.95/bbl, up 33 cents/bbl. October BRENT: $113.15/bbl, up 50 cents/bbl
Crude prices gained ground on investor hopes of further monetary easing policies to help spur economic growth and support oil demand.

NAPHTHA: $966–968/tonne, up $5/tonne
The cargo range climbed from Thursday afternoon, driven by slightly higher crude oil prices. September swaps were assessed at $962–964/tonne.

BENZENE: $1,275–1,300/tonne, widening
September opened slightly wider this morning, as the market awaited news of the monthly contract settlement. October was backwardated at $1,250–1,280/tonne.

STYRENE: $1,630–1,680/tonne, steady
Offers for September were steady at $1,680/tonne following a deal reported at that level late on Thursday. October was valued at $1,550–1,585/tonne.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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