09 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: $96.12/bbl down 50 cents/bbl. June BRENT: $103.72/bbl, down 62 cents/bbl
Futures prices were pressured during early morning trade after official data showed that consumer prices in China rose 2.4% in April from a year earlier, above expectations for a 2.3% increase, dampening hopes that policy makers in Beijing could introduce fresh easing measures to boost economic growth.
NAPHTHA: $835-837/tonne, down $5/tonne.
The cargo range was assessed down on the basis of a weaker naphtha refining margin. May swaps were assessed at $835-837/tonne.
BENZENE: $1,360-1,380/tonne, up $5-10/tonne
Bids for May were up, supported by gains in both Asia and the US. June was valued at $1,350-1,370/tonne.
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