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.
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