20 March 2013 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Wednesday’s midday European oil and chemical market summary from ICIS.
CRUDE: April WTI: $92.80/bbl, up 64 cents/bbl. May BRENT: $108.15/bbl, up 70 cents/bbl
Crude prices bounced back from a three-month lows on hopes that the EU would agree a new bailout package for Cyprus after its parliament rejected a controversial earlier proposal.
NAPHTHA: $912-914/tonne, up $3/tonne
The cargo range was assessed up on a firmer crack spread. April swaps were assessed at $884-886/tonne.
BENZENE: $1,215-1,240/tonne, down $5/tonne on the buy side
March bids opened lower at $1,215/tonne while offers were steady amid incremental gains on Brent crude futures and a stabilised US market. April was in contango at $1,225-1,245/tonne.
STYRENE: $1,615-1,630/tonne, up $5/tonne on the buy side
March edged up on the buy side, although there were no firm corresponding offers yet, with sellers anticipating some upward movement on the back of tightening supply. April bids were at $1,620/tonne.
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