NOON SNAPSHOT – Europe Markets Summary
02 May 2013 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Thursday’s midday European oil and chemical market summary from ICIS.
CRUDE: June WTI: $91.13/bbl, up 10 cents/bbl. June BRENT: $100.43/bbl, up 48 cents/bbl
Crude oil futures edged higher on Thursday on expectations that the European Central Bank will slash interest rates to boost growth, amid signals that the eurozone economy is weakening.
NAPHTHA: $795-797/tonne, up $12/tonne.
The cargo range was assessed up from Wednesday evening on higher crude oil prices. May swaps were assessed at $791-793/tonne.
BENZENE: $1,340-1,355/tonne, up $10/tonne
May opened firmer this morning as Brent futures edged upward. June was valued at $1,340-1,350/tonne.
STYRENE: $1,550-1,570/tonne, down $5-10/tonne
The market opened slightly lower this morning amid continued bearishness downstream. June was in contango at $1,560-1,580/tonne. There was an initial May barge contract heard at €1,400/tonne FOB (free on board) ARA (Amsterdam-Rotterdam-Antwerp) between one buyer and one seller, down €11/tonne from the April settlement, but further confirmation from players is pending.
For more pricing intelligence visit ICIS pricingBy: Staff Reporter+44 20 8652 3214
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