12 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: $86.19/bbl, up 40 cents/bbl. January BRENT: $108.57/bbl, up 56 cents/bbl
Crude oil futures edged higher, supported by firmer stock markets in Asia and also expectations that the US Federal Reserve will announce more stimulus measures later in the day.
NAPHTHA: $927-929/tonne, up $1/tonne
Naphtha cargoes were assessed fractionally higher. January swaps were assessed at $915-917/tonne.
BENZENE: $1,470-1,500/tonne, up $20-35/tonne
The market for December edged up on continued upward pressure from the US and Asia. January traded at $1,500/tonne overnight and the range opened at $1,480-1,520/tonne.
STYRENE: $1,570-1,600/tonne, up $20/tonne on the sell side
December offers moved up to $1,600/tonne in tandem with benzene although buyers remain bearish ahead of the holiday season, with no firm corresponding bids seen. January offers were at $1,625/tonne.
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