NOON SNAPSHOT – Europe Markets Summary

07 December 2012 12:00  [Source: ICIS news]

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

CRUDE: Jan WTI: $86.18/bbl, down 8 cents/bbl. Jan BRENT: $107.20/bbl, up 17 cents/bbl
Crude oil futures were largely steady on Friday. Brent found some support from European stocks which were trading at steady levels compared to Thursday’s close.

NAPHTHA: $930-932/tonne, up $11/tonne
The cargo range climbed from Thursday afternoon, driven by a stronger crack spread and slightly higher crude oil values. January swaps were assessed at $912-914tonne

BENZENE: $1,455-1,475/tonne, narrowing
December bids and offers narrowed this morning, as Brent futures steadied following some price erosion over the course of the week. January was in contango at $1,465-1,480/tonne.

STYRENE: $1,550-1,565/tonne, down $5/tonne on the buy side
Bids for December were slightly lower this morning in a generally bearish market ahead of the holiday period.

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By: Staff Reporter
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