27 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: $87.86/bbl, up 12 cents/bbl. January BRENT: $110.96/bbl, up 4 cents/bbl
Prices remained supported during the morning session on news that the EU had approved the release of the next tranche of bailout funds for Greece.
NAPHTHA: $931-934/tonne, up $7/tonne
The cargo range climbed from Monday afternoon, driven by a firmer crack spread and slightly higher crude oil prices. December swaps were assessed at $926-927/tonne.
BENZENE: $1,390-1,415/tonne, up $5-10/tonne
December opened firmer this morning as the current bullishness continued. Crude continued to move up as well, lending further support to the gains. January was slightly firmer, with bids at $1,395/tonne, but no offers.
STYRENE: $1,535-1,560/tonne, down $15/tonne on the buy side
December offers were steady this morning at $1,560/tonne, although buying appetite was softer so far. January was in contango at $1,545-1,570/tonne.
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