08 February 2013 12:00 [Source: ICIS news]LONDON (ICIS)--Here is Friday’s midday European oil and chemical market summary from ICIS.
CRUDE: March WTI: $96.10/bbl, up 27 cents/bbl. March BRENT: $117.80/bbl, up 56 cents/bbl
Crude prices continued their steady rise, boosted by strong Chinese trade data and ongoing tension in the Middle East.
NAPHTHA: $981-1,001/tonne, up $2/tonne
Naphtha cargoes were assessed fractionally higher, as stronger crude prices were more or less cancelled out by a weaker crack spread. March swaps were assessed at $964-966/tonne.
BENZENE: $1,410-1,430/tonne, up $10/tonne
February opened firmer despite a flat US market, as Asian prices saw some gains. March was in contango at $1,415-1,435/tonne, and there was a deal reported at $1,420/tonne but this was yet to be confirmed.
STYRENE: $1,720-1,740/tonne, up $5/tonne on the sell side
February was quiet so far, and the range was assessed slightly higher on the offer side following an unconfirmed deal done at $1,730/tonne yesterday and an uptick on benzene. March was bullish, and the range was valued at $1,745-1,770/tonne.
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