NOON SNAPSHOT – Europe Markets Summary

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

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

CRUDE: January WTI: $87.12/bbl, down 26 cents/bbl. January BRENT: $110.44/bbl, down 11 cents/bbl
Futures traded in negative territory amid a continued ceasefire between Israel and Hamas, as well as on lingering concerns over the eurozone debt crisis. However, prices remained supported by a weaker US dollar.

NAPHTHA: $921-923/tonne, up $3/tonne
The cargo range edged up from Thursday afternoon as a result of slightly higher crude oil prices. December swaps were assessed at $913-914/tonne.

BENZENE: $1,395-1,410/tonne, up $35/tonne
November opened higher this morning in a bullish market. December traded at $1,385/tonne and $1,395/tonne earlier today, and edged up to be valued flat with November.

STYRENE: $1,470-1,490/tonne, steady
November bids were steady at $1,470/tonne but not met with any corresponding offers yet. December was in contango with bids this morning at $1,505/tonne and $1,510/tonne. Deals were later done at $1,530/tonne and $1,535/tonne and offers were at $1,545/tonne, with the market gaining ground alongside benzene. January was in contango at $1,540-1,560/tonne and there was an unconfirmed deal for February at $1,560/tonne.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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