31 January 2013 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Thursday’s midday European oil and chemical market summary from ICIS.
CRUDE: March WTI: $97.64/bbl, down 30 cents/bbl. March BRENT: $114.75/bbl, down 15 cents/bbl
The price of futures edged down during the morning session, however, losses were limited on upbeat economic news from Europe and on US Federal Reserve plans to continue monetary stimulus measures.
NAPHTHA: $958-960/tonne, down $2/tonne
The cargo range edged down from Wednesday afternoon as a result of a weaker crack spread. February swaps were assessed at $951-953/tonne
BENZENE: $1,380-1,400/tonne, down $15-25/tonne
The market opened lower with bids for February and March at $1,380/tonne, as the US market continued to edge downward. There were no firm corresponding offers, with players awaiting the outcome of the monthly contract settlement expected later today.
STYRENE: $1,710-1,740/tonne, down $20/tonne on the buy side
February bids moved down alongside weaker benzene numbers, although offers held firm at $1,740/tonne. March was valued at $1,725-1,745/tonne.
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