NOON SNAPSHOT – Europe Markets Summary

13 September 2012 12:00  [Source: ICIS news]

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

CRUDE: October WTI: $97.10/bbl, up 9 cents/bbl. October BRENT: $116.10/bbl, up 14 cents/bbl
Crude prices were showing small gains as traders awaited the announcement from the US Federal Reserve later in the day on its plans for further stimulus to boost the US economy.

NAPHTHA: $989-991/tonne, down $11/tonne
The cargo range lost ground from Wednesday afternoon as a result of a weaker crack spread. October swaps were assessed at $973-974/tonne.

BENZENE: $1,480-1,530/tonne, down $20/tonne on the sell side
September offers were lower at $1,530/tonne this morning but there were no firm corresponding bids. October was offered at $1,390/tonne while the first half of the month was still at a sharp premium, with offers at $1,490/tonne and no firm bids.

STYRENE: $1,730-1,780/tonne, down $10-20/tonne
Offers for September were at $1,780/tonne this morning and the range was assessed lower following a spike seen in recent days. October was backwardated with offers at $1,760/tonne.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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