12 February 2013 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Tuesday’s midday European oil and chemical market summary from ICIS.
CRUDE: March WTI: $97.15/bbl, up 12 cents/bbl. March BRENT: $118.70/bbl, up 57 cents/bbl
Brent recouped some of the ground lost on Monday to keep prices near nine-month highs.
NAPHTHA: $983-1,013/tonne, up $5/tonne
The cargo range climbed from Monday afternoon, driven by a stronger crack spread. March swaps were assessed at $966-968/tonne.
BENZENE: $1,415-1,440/tonne, widening
February widened this morning, with firmer US numbers pushing up offers. March was valued flat with the current month.
STYRENE: $1,710-1,740/tonne, up $10/tonne
Offers for February moved up on bullish forward-looking sentiment although buyers kept to the sidelines. March bids were at $1,750/tonne but not met with any offers, the market now in a strong contango ahead of the planned turnarounds.
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