12 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: $91.90/bbl, down 16 cents/bbl. April BRENT: $109.85/bbl, down 37 cents/bbl
Crude oil futures edged lower, pressured by concerns of falling global demand. Prices were also under pressure from the possible closure of a tax loophole in South Korea which is likely to limit North Sea exports to the country.
NAPHTHA: $914-929/tonne, down by $6/tonne on the low end and $5/tonne on the high end
The cargo range was assessed lower on a softening crack spread. April swaps were assessed at $889-892/tonne.
BENZENE: $1,240-1,265/tonne, down $5-10/tonne
The market opened lower as crude futures weakened and the US market continued on a bearish path. April was in contango at $1,260-1,280/tonne.
STYRENE: $1,650-1,665/tonne, down $15/tonne on the sell side
March traded at $1,655/tonne late on Monday. The market opened with March offers moving down. April was slightly firmer on the high end with offers at $1,670/tonne.
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