16 November 2012 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Friday’s midday European oil and chemical market summary from ICIS.
CRUDE: December WTI: $85.32/bbl, down 13 cents/bbl. January BRENT: $108.22/bbl, up 21 cents/bbl
Brent crude futures held around $108/bbl, supported by Middle East supply concerns following violence in the region.
NAPHTHA: $911-913/tonne, down $18/tonne
Assessed values were pulled down by weaker crude prices as well as a slightly softer crack spread. December swaps were assessed at $917-919/tonne.
BENZENE: $1,310-1,340/tonne, up $5/tonne
November spot levels edged up again this morning, supported by firmer Brent futures and growing unrest in the Middle East. December was slightly backwardated at $1,310-1,330/tonne.
STYRENE: $1,445-1,465/tonne, steady
November was quiet so far and the range was unchanged from yesterday’s close. December remains in contango at $1,450-1,495/tonne, with the gap between buyers and sellers widening amid concerns about growing length for the rest of the year.
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