NOON SNAPSHOT – Europe Markets Summary

07 November 2012 12:00  [Source: ICIS news]

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

CRUDE: December WTI: $87.84/bbl, down 87 cents/bbl. December BRENT: $110.06/bbl, down $1.01/bbl
Futures lost more than $1/bbl as investors’ attention returned to concerns over the global economy, following the re-election of Barack Obama as US president. 

NAPHTHA: $942-951/tonne, up $5/tonne.
The cargo range climbed from Tuesday afternoon, driven by higher crude oil prices. December swaps were assessed at $921-923/tonne.

BENZENE: $1,425-1,440/tonne, up $45/tonne
The market continued to push upwards this morning amid bullish sentiment and the continued tight availability of pyrolysis gasoline (pygas). Rising styrene values also supported this uptrend. December was backwardated at $1,395-1,415/tonne.

STYRENE: $1,600-1,620/tonne, steady
November was steady, with offers at $1,620/tonne following deals yesterday at $1,570/tonne, $1,580/tonne and $1,600/tonne. December offers were also at $1,620/tonne, while January was in contango with offers at $1,630/tonne.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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