NOON SNAPSHOT – Europe Markets Summary

10 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: $94.42/bbl, up $1.32/bbl. February BRENT: $112.90/bbl, up $1.14/bbl
Crude oil futures gained, finding support from Saudi Arabia which cut its oil production in November and December last year. Prices were also supported by better-than-expected economic data from China.

NAPHTHA: $939-940/tonne, up $7/tonne
The cargo range climbed as the effects of higher crude oil prices overrode those of a weaker crack spread. February swaps were assessed at $937-938/tonne.

BENZENE: $1,365-1,390/tonne, narrowing
The Asian market saw signs of a rebound on pricing, which helped bring European benzene bids up this morning. Higher crude numbers also supported the current uptrend. February was slightly firmer at $1,375-1,390/tonne.

STYRENE: $1,630-1,650/tonne, up $30-40/tonne
Stronger aromatics numbers in both Asia and the US helped the domestic market rebound. February was in contango with bids at $1,650/tonne. There were no firm offers for either month from sellers so far.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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