NOON SNAPSHOT – Europe Markets Summary
15 January 2013 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Tuesday’s midday European oil and chemical market summary from ICIS.
CRUDE: February WTI: $94.05/bbl, down 9 cents/bbl. February BRENT: $111.86/bbl, down 2 cents/bbl
Crude oil futures edged marginally lower, pressured by rising production of North Sea Forties crude. Two extra 600,000 bbl cargoes have been added to the February loading programme and several stems advanced forward.
NAPHTHA: $915-917/tonne, up $12/tonne
The cargo range climbed, driven by higher crude oil prices and a stronger crack spread. February swaps were assessed at $915-918/tonne.
BENZENE: $1,375-1,395/tonne, up $10/tonne on the sell side
January offers were higher, supported by firmer crude futures overnight. February was in contango at $1,380-1,400/tonne.
STYRENE: $1,660-1,690/tonne, up $5-15/tonne
The market was subdued, with no clear direction emerging yet. There was an unconfirmed January deal heard for yesterday at $1,665/tonne. Offers for both January and February were up at $1,690/tonne in line with benzene, but were not met with any firm bids so far. March was offered at $1,700/tonne.
For more pricing intelligence visit ICIS pricingBy: Staff Reporter+44 20 8652 3214
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