NOON SNAPSHOT – Europe Markets Summary

11 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: $93.51/bbl, down 31 cents/bbl. February BRENT: $111.15/bbl, down 74 cents/bbl
Crude oil futures weakened pressured by higher than expected levels of inflation in China. High levels of inflation could limit China’s ability to implement monetary policies and also push export prices higher.

NAPHTHA: $906-914/tonne, down $16/tonne
The cargo range lost ground as a result of lower crude oil prices and a weaker crack spread. February swaps were assessed at $911-912/tonne.

BENZENE: $1,370-1,400/tonne, down $20-30/tonne
Some downward movement on crude futures saw January open slightly lower, and some further price erosion is expected as the day progresses. February was flat with January.

STYRENE: $1,640-1,660/tonne, down $10-20/tonne
January offers were lower at $1,660/tonne as crude and benzene edged back down overnight, and no firm bids were seen. February was in contango at $1,640-1,670/tonne.For more pricing intelligence visit ICIS pricing

By: Staff Reporter
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