NOON SNAPSHOT – Europe Markets Summary

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

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

CRUDE: May WTI: $93.10/bbl, down 40 cents/bbl. May BRENT: $108.35/bbl, down 37 cents/bbl
Crude prices lost ground in tandem with weak stock markets as the euro again came under pressure from concerns of a potential financial meltdown in Cyprus.

NAPHTHA: $902-904/tonne, up $7/tonne
The cargo range was assessed up from Wednesday evening on higher crude oil prices and a firmer crack spread. April swaps were assessed at $889-891/tonne.

BENZENE: $1,230-1,270/tonne, widening
March opened wider in a thin market, with Asia and the US still driving global price direction. April was valued at $1,240-1,260/tonne.

STYRENE: $1,615-1,645/tonne, down $20/tonne on the buy side
March bids fell to $1,615/tonne this morning in a quiet market, while April was in contango at $1,625-1,655/tonne. With a wide range emerging for both months, the market was looking more illiquid ahead of the American Fuel and Petrochemical Manufacturers (AFPM) meeting in San Antonio, Texas, later this week.

For more pricing intelligence visit ICIS pricing


By: Staff Reporter
+44 20 8652 3214



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