03 May 2013 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Friday’s midday European oil and chemical market summary from ICIS.
CRUDE: June WTI: $93.86 down 13 cents/bbl. June BRENT: $102.81/bbl, down 4 cents/bbl
Crude oil futures weakened, pressured by the EU which has cut its economic growth forecast for the eurozone to a 0.4% contraction from 0.3%.
NAPHTHA: $796-798/tonne, up $7/tonne
The cargo range was assessed up on higher crude oil prices. May swaps were assessed at $802-804/tonne.
BENZENE: $1,355-1,380/tonne, up $15-20/tonne
May opened higher as the US and Asian markets saw incremental gains overnight. June was valued at $1,345-1,375/tonne.
STYRENE: $1,555-1,580/tonne, up $5-15/tonne
The market opened slightly higher following May deals late on Thursday at $1,560/tonne and $1,565/tonne. There was also a deal at $1,558/tonne pending confirmation from the seller. Firmer benzene levels also supported the gains. June was in contango at $1,565-1,590/tonne.
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