NOON SNAPSHOT – Europe Markets Summary

20 February 2013 12:00  [Source: ICIS news]

LONDON (ICIS)--Here is Wednesday’s midday European oil and chemical market summary from ICIS.

CRUDE: March WTI: $96.90/bbl, up 24 cents/bbl. April BRENT: $117.40/bbl, down 12 cents/bbl
Prices were relatively unchanged as expectations of increased Saudi supply in Q2 were countered by optimism regarding the US and Chinese economies.

NAPHTHA: $1,017-1,019/tonne, up $5/tonne
The cargo range climbed from Tuesday afternoon, driven by higher crude oil prices. March swaps were assessed at $981-984/tonne.

BENZENE: $1,385-1,410/tonne, down $15/tonne on the buy side
February bids were at $1,385/tonne, as buyers resisted the current upturn seen in Asia and the US. There were no firm corresponding offers, however. March was in contango at $1,390-1,420/tonne.

STYRENE: $1,725-1,750/tonne, up $5-20/tonne
February moved up this morning, notably on the sell side, as the contango with the forward month began to close. March was slightly higher than February on the buy side, with a range of $1,735-1,750/tonne heard.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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