29 January 2013 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Tuesday’s midday European oil and chemical market summary from ICIS.
CRUDE: March WTI: $96.43/bbl, down 1 cent/bbl. March BRENT: $113.26/bbl, down 22 cents/bbl
Positive US business data and Middle East tensions continue to support crude prices, however, the upside pressure was offset by uncertainty ahead of a key US Federal Reserve monetary policy meeting.
NAPHTHA: $939-940/tonne, down $7/tonne
The cargo range lost ground from Monday afternoon as a result of a weaker crack spread. February swaps were assessed at $935-937/tonne
BENZENE: $1,395-1,415/tonne, up $5-10/tonne
February opened slightly firmer this morning as US and Asian numbers posted signs of recovery. Deals were later done for February at $1,405/tonne. March was backwardated at $1,385-1,400/tonne.
STYRENE: $1,705-1,735/tonne, down $5-15/tonne
February edged down slightly in a quiet market, most notably on the bid side, following the gains posted yesterday. Lower Asian numbers also supported the downtrend. March was valued at $1,715-1,740/tonne.
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