30 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: $97.91/bbl, up 34 cents/bbl. March BRENT: $114.81/bbl, up 45 cents/bbl
Crude prices edged into positive territory on encouraging US housing data. Meanwhile, traders await the outcome of a key US Federal Reserve monetary policy meeting later on today.
BENZENE: $1,395-1,420/tonne, up $5-15/tonne
February opened slightly firmer this morning, with steady Brent futures and Asian benzene numbers supporting the uptrend ahead of the monthly contract settlement. March was backwardated at $1,390-1,405/tonne.
STYRENE: $1,720-1,745/tonne,down $10-15/tonne
February traded as high as $1,748/tonne yesterday before offers settled at $1,745/tonne. March was valued at $1,720-1,750/tonne, with offers expected to continue moving up on emerging tightness going forward and a bullish US market.
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