13 May 2013 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Monday’s midday European oil and chemical market summary from ICIS.
CRUDE: June WTI: $95.02/bbl, down $1.02/bbl. June BRENT: $102.80/bbl, down $1.11/bbl
Crude oil futures weakened on Monday pressured by data from China showing annual industrial output had grown by 9.30% in April, which is down compared with an expected forecast of 9.50%. Prices falls were capped by Iran, which called for OPEC production cuts to boost oil prices.
NAPHTHA: $833-835/tonne, up $7/tonne
Assessed values moved up on firmer crude oil prices while the crack spread held steady. June swaps were assessed at $826-828/tonne.
BENZENE: $1,370-1,385/tonne, down $5/tonne
European benzene got off to a slow start, with the market void of serious bids or offers. June was slightly backwardated at $1,360-1,375/tonne.
STYRENE: $1,630-1,655/tonne, up $5-15/tonne
European styrene was quiet in early morning trade and no public deals were recorded. June was backwardated at $1,620-1,645/tonne.
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