NOON SNAPSHOT – Europe Markets Summary
23 April 2013 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Tuesday’s midday European oil and chemical market summary from ICIS.
CRUDE: June WTI: $88.40/bbl, down 79 cents/bbl. June BRENT: $99.40/bbl, down 99 cents/bbl
Crude futures fell sharply on the back of weak Chinese manufacturing data, and the potential impact on oil demand growth from the world’s second-largest consumer.
NAPHTHA: $789-792/tonne, down $8/tonne.
The cargo range was assessed down from Monday evening on lower crude prices and a weaker crack spread. May swaps were assessed at $787-789/tonne.
BENZENE: $1,380-1,400/tonne, up $20-25/tonne
May and June were valued at $1,380-1,400/tonne this morning, easing off slightly following gains seen late yesterday as crude fell by over $1/bbl overnight. April was quiet and valued flat with May.
STYRENE: $1,520-1,535/tonne, down $5/tonne on sell side
April was quiet this morning, with offers at $1,535/tonne but no firm bids. May sentiment was slightly better, with offers at $1,565/tonne, but there were still no buyers in the market as yet.
For more pricing intelligence visit ICIS pricingBy: Staff Reporter+44 20 8652 3214
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