02 April 2013 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Tuesday’s midday European oil and chemical market summary from ICIS.
CRUDE: May WTI: $97.10/bbl, up 3 cents/bbl. May BRENT: $111.38/bbl, up 30 cents/bbl
Crude oil futures edged higher on Tuesday supported by a positive purchasing managers’ index (PMI) from China which indicated growth in March. However, price gains were capped by continued concerns over the Cyprus bailout.
NAPHTHA: $897-901/tonne, up $14/tonne
The cargo range was assessed up from Thursday evening on higher crude oil prices. May swaps were assessed at $887-889/tonne.
BENZENE: $1,230-1,260/tonne, up $10-25/tonne
April opened higher this morning, notably on the offer side, with the US market stabilising earlier this week. May was in a slight contango with bids opening at $1,235/tonne before edging up to $1,245/tonne, but these were not met with any firm offers.
STYRENE: $1,605-1,625/tonne, up $5-15/tonne
April and May bids were at $1,605/tonne this morning but not yet met with any offers with the market steadying itself after a drop late last week.
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