NOON SNAPSHOT – Europe Markets Summary

05 March 2013 12:00  [Source: ICIS news]

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

CRUDE: April WTI: $90.32/bbl, up 20 cents/bbl. April BRENT: $110.64/bbl, up 55 cents/bbl
Crude oil futures gained after outgoing Chinese premier Wen Jiabao said the country's government will boost fiscal spending to maintain economic growth. However, prices were capped by HSBC’s services purchasing managers’ index for February showing a reading at 52.10, down from 54.00 in January.

NAPHTHA: $908-910/tonne, down $2/tonne
The cargo range was assessed down as the effects of a weaker crack spread overrode those of higher crude oil prices. April swaps were assessed at $896-898/tonne.

BENZENE: $1,330-1,350/tonne, down $20-30/tonne
Spot prices eased on the back of falls in the US. April was valued at $1,345-1,360/tonne.

STYRENE: $1,640-1,660/tonne, down $20/tonne
Price ideas moved down for March and April caused by lower benzene values and market length. April styrene was valued at $1,650-1,670/tonne.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
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