NOON SNAPSHOT – Europe Markets Summary

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

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

CRUDE: February WTI: $91.70/bbl, down $1.22/bbl. February BRENT: $110.63/bbl, down $1.51/bbl
Crude oil futures weakened on Friday after the US Federal Reserve indicated that it may buy less bonds and tighten its loose monetary policies in 2013.

NAPHTHA: $934-936/tonne, down $14/tonne
The cargo range lost ground from Thursday afternoon on the back of lower crude oil values. February swaps were assessed at $916-917/tonne.

BENZENE: $1,475-1,485/tonne, down $30/tonne
European benzene spot prices fell quickly in morning trading on the back of weaker crude. January was actively traded and deals done at $1,485-1,520/tonne. February was offered at $1,480/tonne, but this was not met with any corresponding bids. March was at $1,460-1,480/tonne.

STYRENE: $1,675-1,700/tonne, down $20-35/tonne
January styrene was valued at $1,675-1,700/tonne, moving down with falling benzene spot prices. February styrene was assessed at $1,690-1,710/tonne.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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