20 November 2012 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Tuesday’s midday European oil and chemical market summary from ICIS.
CRUDE: January WTI: $89.02/bbl, down 26 cents/bbl. January BRENT: $111.54/bbl, down 16 cents/bbl
Futures prices remained pressured, undermined by eurozone worries following a downgrade of France’s sovereign debt by credit ratings firm Moody’s.
NAPHTHA: $936-946/tonne, down $3/tonne
The cargo range edged down from Monday afternoon as a result of a weaker crack spread. December swaps were assessed at $933-935/tonne.
BENZENE: $1,355-1,385/tonne, widening
The range for November widened this morning, with lower crude prices bringing bids down while offers edged up amid ongoing bullishness. December was flat with November.
STYRENE: $1,460-1,500/tonne, up $10/tonne on the sell side
November offers moved up alongside benzene offers this morning. December was in contango with offers at $1,540/tonne but no firm bids.
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