NOON SNAPSHOT – Europe Markets Summary

18 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: $95.42/bbl, down 7 cents/bbl. March BRENT: $110.85/bbl, down 25 cents/bbl
Crude oil futures weakened on Friday on concerns over weakening global oil demand. However, the losses were capped on news that the Chinese economy grew by 7.90% in the final quarter of 2012, which was higher than expectations.

NAPHTHA: $911-913/tonne, up $6/tonne
The cargo range climbed from Thursday afternoon, driven by higher crude oil prices and a slightly stronger crack spread. February swaps were assessed at $916-918/tonne.

BENZENE: $1,435-1,470/tonne, widening
The range for January widened, with sellers pushing offers up while buyers resisted amid relatively steady-to-softening oil pricing. February was slightly firmer on the buy side at $1,440/tonne.

STYRENE: $1,690-1,710/tonne, up $5/tonne on the sell side
Offers for January were at $1,710/tonne but not met with any firm bids so far, while February was in contango at $1,710-1,730/tonne.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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