NOON SNAPSHOT – Europe Markets Summary

03 January 2013 12:00  [Source: ICIS news]

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

CRUDE: February WTI: $92.62/bbl, down 50 cents/bbl. February BRENT: $111.95/bbl, down 52 cents/bbl
Crude oil futures weakened, pressured by fears of more budget-related disagreements in the US. Prices were also pressured by rising supplies of physical oil amid weak global demand.

NAPHTHA: $945-947/tonne, down $4/tonne
The cargo range edged down as a result of softer crude oil values. February swaps were assessed at $927-929/tonne.

BENZENE: $1,515-1,525/tonne, offers down $5
Spot prices were steady on the bid and slightly softer on the offer. Traders said the market was quiet and very little spot activity had taken place so far this week. The market was void of any buying or selling interest for February.

STYRENE: $1,730-1,740/tonne, down $5/tonne
There was little buying or selling interest in the spot market in morning trading. February was offered at $1,740/tonne but this was not met with any corresponding bids.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
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