14 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: $85.67/bbl, up 29 cents/bbl. December BRENT: $108.68/bbl, up 42 cents/bbl
Futures strengthened on a weaker US dollar. However, a reduction in a 2012 global oil demand forecast by the International Energy Agency (IEA), in addition to increased supplies, limited the gains made.
NAPHTHA: $928-933/tonne, up $3/tonne
Assessed values firmed slightly alongside marginally higher crude numbers. December swaps were assessed at $922-924/tonne.
BENZENE: $1,320-1,350/tonne, widening
November offers crept up to $1,350/tonne this morning on the back of slight crude gains, although buyers so far failed to follow. December and January were both valued at $1,310-1,350/tonne.
STYRENE: $1,465-1,490/tonne, up $5-10/tonne
The market edged back up this morning, supported by relatively steady benzene numbers and some gains seen on crude futures. December was in contango at $1,470-1,500/tonne.
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