22 November 2012 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Thursday’s midday European oil and chemical market summary from ICIS.
CRUDE: January WTI: $87.35/bbl, down 3 cents/bbl. January BRENT: $110.69/bbl, down 17 cents/bbl
Futures remained under pressure during the morning session following a ceasefire between Israel and Hamas forces in Gaza which eased supply concerns.
NAPHTHA: $924-925/tonne, down $4/tonne
The cargo range edged down from Wednesday afternoon as a result of a weaker crack spread. December swaps were assessed at $915-916/tonne.
BENZENE: $1,350-1,380/tonne, widening
November bids and offers widened this morning, with no clear direction coming from crude and limited appetite amongst consumers. December moved into a slight contango at $1,355-1,380/tonne.
STYRENE: $1,440-1,460/tonne, down $20/tonne
November traded yesterday at $1,475/tonne but the market opened lower this morning with bids at $1,440/tonne and no firm offers. December was in contango with bids at $1,485/tonne.
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