29 April 2013 12:10 [Source: ICIS news]
LONDON (ICIS)--Here is Monday’s midday European oil and chemical market summary from ICIS.
CRUDE: June WTI: $93.34/bbl, up 34 cents/bbl. June BRENT: $103.10/bbl, down 6 cents/bbl
Brent crude oil futures edged lower, pressured by bearish sentiment in the global market. Last week’s HSBC purchasing managers index (PMI) for China’s industrial sector was disappointing, and US GDP growth for the first quarter was also below forecast.
NAPHTHA: $809-812/tonne, down $3/tonne on the low end, down $2/tonne on the high end
The cargo range was assessed down on a weaker crack spread. May swaps were assessed at $809-811/tonne.
BENZENE: $1,360-1,380/tonne, down $10/tonne on the buy side
May bids opened slightly lower, with a lower Asian market and holidays across much of Europe keeping activity muted so far. Brent was also lower on disappointing first-quarter growth data from the US. June benzene was backwardated at $1,350-1,370/tonne.
STYRENE: $1,550-1,570/tonne, steady
The bid/offer range for May was steady from last week’s close in a subdued market. June was valued slightly higher at $1,555-1,580/tonne.
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