NOON SNAPSHOT – Europe Markets Summary
14 February 2013 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Thursday’s midday European oil and chemical market summary from ICIS.
CRUDE: March WTI: $96.85/bbl, down 16 cents/bbl. April BRENT: $117.45/bbl, down 43 cents/bbl
Earlier gains were wiped out as prices fell on the back of disappointing eurozone Q4 2012 GDP data.
NAPHTHA: $999-1,004/tonne, up $1/tonne
The cargo range edged up as a result of a stronger crack spread. March swaps were assessed at $977-979/tonne.
BENZENE: $1,395-1,410/tonne, down $5/tonne on the buy side
February bids opened lower following deals done as low as $1,400/tonne midweek, although sellers attempted to resist the downturn. March was in contango at $1,400-1,420/tonne.
STYRENE: $1,700-1,720/tonne, down $5-15/tonne
Lower benzene numbers brought styrene price ideas down. February offers were at $1,720/tonne but not met with any bids. March was still in a firm contango at $1,740-1,760/tonne, with the forward month still bullish owing to the scheduled turnarounds and seasonal demand improvements.
For more pricing intelligence visit ICIS pricingBy: Staff Reporter+44 20 8652 3214
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