NOON SNAPSHOT – Europe Markets Summary

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

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

CRUDE: February WTI: $94.12/bbl, up 56 cents/bbl. February BRENT: $111.17/bbl, up 53 cents/bbl
Futures continued to trade in positive territory during the morning session on a weaker US dollar. Prices were also supported by the start up of the expanded Seaway Pipeline, which will help to alleviate the build up of crude stocks in the US Midwest.

NAPHTHA: $896-898/tonne, up $9/tonne
The cargo range climbed from Friday afternoon, driven by higher crude oil prices. February swaps were assessed at $898-900/tonne.

BENZENE: $1,360-1,390/tonne, down $10/tonne on the buy side
Bids for January opened lower this morning although offers were steady in a quiet market so far. February was offered slightly higher at $1,395/tonne.

STYRENE: $1,640-1,660/tonne, up $20/tonne
February was valued at $1,655-1,675/tonne, slightly higher from last week’s close as a dearth of imports into Europe buoyed initial sentiment. There was no firm range for January so far, and the range was assessed slightly stronger.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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