03 December 2012 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Monday’s midday European oil and chemical market summary from ICIS.
CRUDE: January WTI: $88.92/bbl, up 1 cents/bbl. January BRENT: $111.50/bbl, up 27 cents/bbl
Crude oil futures edged higher on Monday finding support from better-than-expected economic data emerging from China. However, gains were capped by a lack of progress over US budget talks.
NAPHTHA: $941-943/tonne, down $10/tonne
The cargo range slipped from Friday afternoon as a result of a softer crack spread. January swaps were assessed at $933-935/tonne.
BENZENE: $1,400-1,425/tonne, up $10/tonne on the sell side
December offers opened higher this morning, while January was in contango at $1,405-1,435/tonne.
STYRENE: $1,525-1,560/tonne, up $10-25/tonne
December bids and offers were narrower this morning following some bearishness towards the end of last week, supported by steady to firm benzene pricing. Offers later moved up to $1,560/tonne. January was valued at $1,555-1,575/tonne.
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