26 April 2013 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Friday’s midday European oil and chemical market summary from ICIS.
CRUDE: June WTI: $93.03/bbl, down 61 cents/bbl. June BRENT: $102.85/bbl, down 56 cents/bbl
Crude oil futures weakened on Friday pressured by weaker stock markets, high crude oil stocks in the US and bearish economic sentiment. The Brent/WTI spread narrowed below $10/bbl making it cheaper for US refiners to import crude oils priced against the Dated BFOE (Brent, Forties, Oseberg, Ekofisk) benchmark.
NAPHTHA: $811-813/tonne, stable
The cargo range was assessed stable compared with Thursday evening. May swaps were assessed at $810-812/tonne.
BENZENE: $1,380-1,405/tonne, up $10-25/tonne
May opened higher this morning as crude continued to claw back earlier losses, and there was a deal done at $1,400/tonne. June was valued at $1,365-1,405/tonne.
STYRENE: $1,540-1,560/tonne, down $5-10/tonne
May was softer this morning amid continued bearishness in the market.
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