26 February 2013 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Tuesday’s midday European oil and chemical market summary from ICIS.
CRUDE: April WTI: $92.35/bbl, down 76 cents/bbl. April BRENT: $113.43/bbl, down $1.01/bbl
Crude oil futures weakened on Tuesday pressured by political uncertainty in Italy where the results of the general election were inconclusive. The election deadlock has reignited fears of more financial difficulties in Europe and contagion to other countries.
NAPHTHA: $982-984/tonne, down $10/tonne
The cargo range was assessed down because of a fall in crude prices. March swaps were assessed at $962-964/tonne.
BENZENE: $1,370-1,385/tonne, down $10-15/tonne
Weaker numbers in Asia plus further price erosion on Brent crude futures overnight saw March benzene open lower. April was valued at $1,375-1,395/tonne.
STYRENE: $1,730-1,750/tonne, down $5-10/tonne
Offers for March and April were lower at $1,750/tonne this morning, as weaker numbers across the Asian aromatics sector and a $1/bbl plunge on Brent crude futures weighed down on sentiment. There were no corresponding bids in the market yet.
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