24 December 2012 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Monday’s midday European oil and chemical market summary from ICIS.
CRUDE: February WTI: $88.65/bbl, down 1 cent/bbl. February BRENT: $108.71/bbl, down 26 cents/bbl
Crude oil futures edged lower amid ongoing uncertainty over the US budget and a lack of progress between Democrats and Republicans.
NAPHTHA: $948-949/tonne, up $1/tonne.
The cargo range edged up as a result of a slightly stronger crack spread. January swaps were assessed at $937-938/tonne.
BENZENE: $1,515-1,540/tonne, stable
The market was quiet becuase of Christmas holiday absences and most business for the holiday period has now been concluded. Most December business has now finished and attention is firmly focused on January. Price ideas for January edged down on the buy side by $10/tonne from Friday’s close to $1,510-1,530/tonne. This was the result of a deal concluded late on Friday night, at $1,510/tonne for January, which was confirmed this morning.
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