NOON SNAPSHOT Europe Markets Summary
13 June 2013 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Thursday’s midday European oil and chemical market summary from ICIS. CRUDE: July WTI: $95.55/bbl, down 33 cents/bbl. July BRENT: $103.25/bbl, down 24 cents/bbl
Crude futures were trading in negative territory in tandem with tumbling global stock markets and concerns over falling energy demand, although a weak US dollar underpinned the fall.
NAPHTHA: $841-843/tonne, down $7/tonne on the low end, down $6/tonne on the high end
The cargo range was assessed down on lower crude oil prices. July swaps were assessed at $837-839/tonne.
BENZENE: $1,330-1,345/tonne, down $5-10/tonne
June opened slightly lower in line with continued losses on crude futures and lower US numbers overnight. July was backwardated at $1,325-1,340/tonne.
STYRENE: $1,700-1,735/tonne, widening
June traded midweek at $1,720/tonne and $1,730/tonne, which galvanised sellers to keep offers up, although buyers have begun to move back down amid unchanged market fundamentals. July was valued at $1,700-1,725/tonne, while August was offered at $1,700/tonne but not met with any firm bids.
For more pricing intelligence visit ICIS pricing By: Staff Reporter+44 20 8652 3214
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