18 December 2012 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Tuesday’s midday European oil and chemical market summary from ICIS.
CRUDE: January WTI: $87.70/bbl, up 50 cents/bbl. February BRENT: $108.26/bbl, up 62 cents/bbl
Crude oil futures gained on Tuesday, supported by hopes that US lawmakers will agree on tax and spending plans for 2013 ahead of the looming fiscal cliff.
NAPHTHA: $942-949/tonne, down $1/tonne.
The cargo range edged down from Monday afternoon as the effects of a softer crack spread overrode those of slightly higher crude oil values. January swaps were assessed at $931-933/tonne.
BENZENE: $1,490-1,505/tonne, narrowing
The European spot benzene range narrowed in morning trading, suggesting spot activity might have taken place. However, no public deals were recorded. January benzene was valued at $1,510-1,525/tonne.
STYRENE: $1,600-1,620/tonne, up $20-30/tonne
Higher styrene prices in Asia lifted spot price ideas in Europe during morning trading. January was still in contango at $1,650-1,680/tonne. February styrene was quoted at $1,655-1,690/tonne.
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