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.
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.
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