NOON SNAPSHOT – Europe Markets Summary

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

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

CRUDE: March WTI: $96.75/bbl, up 7 cents/bbl. March BRENT: $112.44/bbl, up 2 cents/bbl
Crude oil futures were little changed on Wednesday compared to the previous settlement, as investors wait for US lawmakers to vote on extending the US debt ceiling.

NAPHTHA: $943-944/tonne, up $1/tonne
The cargo range edged up from Tuesday afternoon as the effects of higher crude oil prices overrode those of a weaker crack spread. February swaps were assessed at $941-943/tonne.

BENZENE: $1,465-1,485/tonne, down $10/tonne on the buy side
The market was weaker this morning as global losses weighed down on Europe. January offers were at $1,485/tonne, but were not met with any bids. February was valued at $1,450-1,475/tonne, with bids for the first half of the month lower at $1,440/tonne.

STYRENE: $1,680-1,710/tonne, down $20/tonne
January offers were at $1,710/tonne this morning but not met with any bids so far, as buying interest for the current month waned. February was valued at $1,700-1,730/tonne.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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