NOON SNAPSHOT Europe Markets Summary

18 June 2013 12:00  [Source: ICIS news]

LONDON (ICIS)--Here is Tuesday’s midday European oil and chemical market summary from ICIS.

CRUDE: July WTI: $97.64/bbl, down 13 cents/bbl. August BRENT: $105.33/bbl, down 14 cents/bbl
Crude oil futures edged lower on Tuesday amid thin trade, as investors wait for the outcome of a two-day Federal Reserve meeting which will commence later today.

NAPHTHA: $853-856/tonne, down $6/tonne. 
The cargo range was assessed lower on the back of slightly weaker crude oil prices. July swaps were assessed at $847-848/tonne.

BENZENE: $1,350-1,370/tonne, steady
The market was steady this morning, following minor gains seen in the US amid thin activity. July was valued at $1,330-1,345/tonne.

STYRENE: $1,700-1,720/tonne, down $20-25/tonne
Both June and July opened lower this morning, with no firm buying interest from industry seen in the market. There remain some prompt availability concerns, however, keeping June values relatively buoyant, while demand looks set to improve into July. July was valued at $1,700-1,715/tonne, while a range for the second half of the month was heard lower at $1,680-1,700/tonne.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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