NOON SNAPSHOT – Europe Markets Summary

10 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: $95.71/bbl down 68 cents/bbl. June BRENT: $103.88/bbl, down 59 cents/bbl
Crude oil futures weakened, pressured by concerns over the health of the global economy and record high levels of crude oil stocks in the US.

NAPHTHA: $841-842/tonne, up $2/tonne on the low end, up $1/tonne on the high end.
The cargo range was assessed up on the basis of a stronger crack spread. May swaps were assessed at $840-841/tonne.

BENZENE: $1,375-1,390/tonne, up $10-15/tonne
May bids and offers firmed in response to rising US benzene values overnight. June was steady from Thursday's close at $1,360-1,380/tonne. The market remained quiet because of the public holiday period across Europe and the 2013 APIC conference in Taipei, Taiwan this week.

STYRENE: $1,605-1,630/tonne, widening
The bid/offer range widened during the morning session. Offers were edging up in response to higher benzene values. Activity remains limited by the public holiday period across Europe.

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By: Staff Reporter
+44 20 8652 3214

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