12 October 2012 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Friday’s midday European oil and chemical market summary from ICIS.
CRUDE: November WTI: $92.09/bbl, up 2 cents/bbl. November BRENT: $114.70/bbl, down $1.01/bbl
ICE Brent crude oil futures weakened on Friday after the International Energy Agency slashed its oil demand growth forecast on the back of better supply and demand fundamentals and improved energy efficiency.
NAPHTHA: $975-977/tonne, down $13/tonne
The cargo range lost ground from Thursday afternoon on the back of softer crude oil values and a weaker crack spread. November swaps were assessed at $950-951/tonne.
BENZENE: $1,280-1,300/tonne, up $15-30/tonne
October traded yesterday at $1,285/tonne and $1,290/tonne. The market opened higher again alongside crude gains. November was backwardated at $1,270-1,290/tonne, trading at $1,270/tonne and $1,275/tonne late yesterday.
STYRENE: $1,600-1,640/tonne, down $10-15/tonne
October continued to edge downward this morning, despite upstream gains. November was valued at $1,600-1,615/tonne.
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