07 May 2013 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Tuesday’s midday European oil and chemical market summary from ICIS.
CRUDE: June WTI: $95.67/bbl, down 49 cents/bbl. June BRENT: $105.06/bbl, down 40 cents/bbl
Crude oil futures weakened on Tuesday as the Nexen-operated Buzzard North Sea oil field is now producing at full capacity after an unexpected shutdown last week. Buzzard crude oil is the largest component of the Forties Blend.
NAPHTHA: $828-830/tonne, up $8/tonne on the low end, up $9/tonne on the high end
The cargo range was assessed up from Friday evening on the basis of higher crude oil prices and stronger naphtha refining margins. May swaps were assessed at $828-831/tonne.
BENZENE: $1,355-1,370/tonne, down $15/tonne
May opened lower this morning in line with a softer Asian market. June was offered at $1,365/tonne before a range of $1,340-1,370/tonne was heard.
STYRENE: $1,590-1,615/tonne, widening
The market was valued slightly wider this morning with offers for May as high as 1,615/tonne. June was valued at $1,590-1,615/tonne.
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