NOON SNAPSHOT – Europe Markets Summary

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

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

CRUDE: May WTI: $92.34/bbl, down $1.17/bbl. May BRENT: $102.81/bbl, down $1.46/bbl
Crude oil futures weakened along with most stock markets around the globe on renewed fears over the rising Cyprus bailout bill.

NAPHTHA: $814-816/tonne, down $9/tonne
The cargo range was assessed down on weaker crude oil prices. May swaps were assessed at $815-817/tonne.

BENZENE: $1,310-1,330/tonne, up $20-25/tonne
The market saw steady gains amid talk of possible production issues with two producers. April bids opened at $1,290/tonne unchanged before moving up to $1,310/tonne. There were still no corresponding offers, however, indicating that April numbers could climb further. May bids opened at $1,300/tonne before a range of $1,315-1,335/tonne was established.

STYRENE: $1,565-1,575/tonne, up $5/tonne
Bids for April were at $1,565/tonne but there were no corresponding offers, with the higher benzene numbers keeping sellers from any downward revision so far. May bids were at $1,580/tonne, unchanged from Thursday's close.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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