NOON SNAPSHOT – Europe Markets Summary

22 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: $95.41/bbl, down 15 cents/bbl. March BRENT: $112.10/bbl, up 39 cents/bbl
ICE Brent crude oil futures gained, finding support from Japan, which is planning another round of monetary easing to lift the economy from stagnation.

NAPHTHA: $936-937/tonne, up $7/tonne
The cargo range climbed as a result of higher crude oil prices and a stronger crack spread. February swaps were assessed at $935-937/tonne.

BENZENE: $1,455-1,475/tonne, down $15-20/tonne
January opened lower, as crude oil dipped overnight and the upturn in the Asian market slowed down. February remained in contango at $1,460-1,480/tonne.

STYRENE: $1,700-1,725/tonne, down $5-20/tonne.
January was lower in line with benzene, notably on the bid side as buyers resisted some of the upturn seen earlier this week. The outlook remains bullish, however, with offers for February cargo higher at $1,750/tonne.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
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