NOON SNAPSHOT – Europe Markets Summary

20 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: $95.44/bbl down 58 cents/bbl. July BRENT: $104.15/bbl, down 49 cents/bbl
Crude futures traded in negative territory amid thin trade, with investors opting to hold back from the market ahead of the US Federal Reserve chairman's outlook on the economy later on in the week.

NAPHTHA: $849-853/tonne, up $4-6/tonne
The cargo range was assessed slightly higher on firmer crude numbers and a stronger crack spread. May swaps were assessed at $846-849/tonne.

BENZENE: $1,355-1,390/tonne, widening
The market was quiet so far this morning owing to public holidays across much of mainland Europe. The range for May opened wider. June was backwardated slightly at $1,355-1,385/tonne.

STYRENE: $1,690-1,710/tonne, up $5-10/tonne
Activity was thin so far this morning, with public holidays in Europe keeping players on the sidelines. The May bid/offer range edged up alongside higher benzene offers. June was valued at $1,680-1,710/tonne.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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