NOON SNAPSHOT – Europe Markets Summary

03 April 2013 12:00  [Source: ICIS news]

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

CRUDE: May WTI: $96.80/bbl, down 39 cents/bbl. May BRENT: $110.23/bbl, down 46 cents/bbl
Crude oil futures weakened following a larger-than-expected build in US crude oil stocks last week, according to a report issued by the American Petroleum Institute. Official data from the US Energy Information Administration is expected to be released later on Wednesday. 

NAPHTHA: $885-887/tonne, down $2/tonne
The cargo range was assessed down from Tuesday evening on lower crude oil prices. May swaps were assessed at $875-877/tonne.

BENZENE: $1,255-1,270/tonne, up $15-20/tonne
April opened higher this morning, as the US market saw further gains overnight. May was in contango at $1,270-1,290/tonne.

STYRENE: $1,630-1,650/tonne, up $10-15/tonne
April and May cargo was offered at $1,650/tonne this morning, buoyed by stronger benzene numbers. There were no corresponding bids, however.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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