NOON SNAPSHOT – Europe Markets Summary

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

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

CRUDE: February WTI: $93.53/bbl, up 25 cents/bbl. February BRENT: $110.66/bbl, up 36 cents/bbl
Crude oil futures gained on Wednesday, finding support from US retail sales data. The cold weather in Europe and the US also supported prices as refiners may produce more heating oil.

NAPHTHA: $896-898/tonne, down $7/tonne
The cargo range slipped from Tuesday afternoon as a result of lower crude oil prices. February swaps were assessed at $902-904/tonne.

BENZENE: $1,375-1,400/tonne, up $15/tonne on the sell side
January offers reached $1,400/tonne this morning as Brent futures topped the $110/bbl mark, but buyers were unwilling to follow the market up so far. February was valued flat with January.

STYRENE: $1,665-1,680/tonne, up $20/tonne on the buy side
The market edged up on the buy side this morning as benzene saw signs of recovery. February was in contango at $1,670-1,685/tonne.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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