19 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: $88.58/bbl, up 85 cents/bbl. June BRENT: $99.91/bbl, up 78 cents/bbl
Crude oil futures gained following firmer stock markets around the globe, however continued demand growth concerns capped potential gains. Oil cartel OPEC was believed to be considering an emergency meeting to discuss recent slump in oil prices.
NAPHTHA: $793-794/tonne, $9/tonne higher at the low end and up $8/tonne at the high end
The cargo range was assessed up on higher crude prices. May swaps were assessed at $795-796/tonne.
BENZENE: $1,370-1,390/tonne, up $45/tonne
April opened stronger again with bids initially at $1,355/tonne before edging up further on positive sentiment and a firmer Asian market. May was in contango at $1,375-1,390/tonne while June was higher still at $1,375-1,400/tonne.
STYRENE: $1,510-1,550/tonne, up $25/tonne on the sell side
April traded at $1,525/tonne and $1,517.50/tonne. Offers opened higher for April this morning, however, with sellers keen to keep pace with a bullish benzene market. Bids were steady at $1,510/tonne.
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