NOON SNAPSHOT – Europe Markets Summary

26 October 2012 12:00  [Source: ICIS news]

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

CRUDE: December WTI: $85.35/bbl, down 70 cents/bbl. December BRENT: $108.15/bbl, down 34 cents/bbl
Crude prices traded in negative territory amid expectations that US GDP data due out later in the day will be below expectations.

NAPHTHA: $926-934/tonne, up $4/tonne
The cargo range edged up from Thursday afternoon, driven by slightly higher crude oil prices and a firmer crack spread. November swaps were assessed at $918-919/tonne.

BENZENE: $1,370-1,420/tonne, up $30-40/tonne
European benzene spot price ideas for October rose by $30-40/tonne because of tight supply. Any November was backwardated at $1,340-1,360/tonne, while H1 was wider at $1,350-1,410/tonne. December bids and offers were further backwardated at $1,300-1,350/tonne, and January was talked at $1,325-1,375/tonne. Although October material continues to be offered, there were no firm deals concluded during the morning session.

STYRENE: $1,520-1,550/tonne, up $35/tonne
November styrene bids and offers rose during the morning session on the back of firmer benzene prices. November bids and offers were at $1,520-1,550/tonne. A November deal was reported by the buyer at $1,520/tonne, but could not be confirmed by the seller by the time of publication. December was flat with November. October spot price offers have disappeared from the market.

For more pricing intelligence please visit ICIS pricing


By: Staff Reporter
+44 20 8652 3214



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