06 November 2012 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Tuesday’s midday European oil and chemical market summary from ICIS.
CRUDE: December WTI: $86.08/bbl, up 43 cents/bbl. December BRENT: $108.19/bbl, up 46 cents/bbl
Crude oil futures tracked gains in equity markets, which edged higher ahead of the US presidential elections.
NAPHTHA: $939-942/tonne, up $17/tonne
The cargo range made gains from Monday, driven by higher crude oil prices. December swaps were assessed at $910-912/tonne.
BENZENE: $1,370-1,390/tonne, up $25-35/tonne
November opened higher this morning in a tight and bullish market. December remains backwardated, with bids at $1,345/tonne.
STYRENE: $1,560-1,590/tonne, up $40-55/tonne
November traded at $1,525-1,550/tonne and December traded at $1,550-1,570/tonne yesterday amid some talk of production problems at one supplier. The market opened significantly higher this morning, with November and December values flat and a deal done at $1,570/tonne for November, while firming benzene values also supported the uptrend.
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