13 December 2012 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Thursday’s midday European oil and chemical market summary from ICIS.
CRUDE: January WTI: $86.30/bbl, down 47 cents/bbl. January BRENT: $109.25/bbl, down 25 cents/bbl
Futures prices continued to be pressured during the morning session on increased US crude stocks. A lack of progress in US budget talks also remains a concern.
NAPHTHA: $922-924/tonne, down $10/tonne.
The cargo range lost ground from Wednesday afternoon as a result of lower crude oil prices and a softer crack spread. January swaps were assessed at $910-912/tonne.
BENZENE: $1,470-1,485/tonne, steady
The market was steady this morning, with players attending the European Petrochemical Luncheon in Brussels, Belgium.
STYRENE: $1,560-1,590/tonne, down $10/tonne
The market edged down this morning amid bearish sentiment. January was in contango at $1,605-1,635/tonne.
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