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.
For more pricing intelligence visit ICIS pricingBy: Staff Reporter+44 20 8652 3214
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial
to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free
trial to ICIS Chemical Business.