NOON SNAPSHOT – Europe Markets Summary

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

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

CRUDE: January WTI: $87.83/bbl, down 45 cents/bbl. January BRENT: $110.97/bbl, down 41 cents/bbl
Futures remained pressured on a firmer US dollar and ongoing eurozone concerns ahead of an EU meeting which will discuss the release of further bailout funds for Greece.

NAPHTHA: $929-931/tonne, up $3/tonne
The cargo range edged up from Friday afternoon on the back of slightly higher crude oil prices and a minimally firmer crack spread. December swaps were assessed at $921-923/tonne.

BENZENE: $1,385-1,410/tonne, up $5-15/tonne
December opened firmer this morning on continued bullishness in Asia. January was in a slight contango at $1,390-1,420/tonne.

STYRENE: $1,510-1,540/tonne, down $5/tonne on the sell side
December opened relatively steady from last week’s close, while January was in contango at $1,530-1,560/tonne. Nevertheless, there was some concern that any significant volume of imports into Europe early next year could bring prices down sharply amid ongoing macroeconomic weakness.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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