05 December 2012 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Wednesday’s midday European oil and chemical market summary from ICIS.
CRUDE: January WTI: $88.59/bbl, up 9 cents/bbl. January BRENT: $109.93/bbl, up 9 cents/bbl
Crude oil futures edged marginally higher on Wednesday finding support from Asian stock markets which were trading firmer.
NAPHTHA: $927-929/tonne, down $3/tonne
The cargo rang edged down from Tuesday afternoon as the effects of lower crude oil prices overrode those of a stronger crack spread. January swaps were assessed at $916-918tonne
BENZENE: $1,470-1,490/tonne, up $30-40/tonne
Strong numbers in both Asia and the US kept upward pressure on the European market overnight. There was an unconfirmed December deal heard at $1,470/tonne. January was slightly firmer with bids at $1,475/tonne.
STYRENE: $1,565-1,590/tonne, up $10-15/tonne
Upward pressure from benzene and bullish Asian prices pushed December bids and offers up this morning. January remains in contango at $1,590-1,620/tonne.
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