27 June 2013 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Thursday’s midday European oil and chemical market summary from ICIS.
CRUDE: August WTI: $95.73/bbl, up 23 cents/bbl. August BRENT: $102.08/bbl, up 42 cents/bbl
Crude futures gained on Thursday after the European Commission said an index of executive and consumer sentiment rose to 91.30 in June, from 89.50 in May. Prices were also supported by gains in most Asian stock indices, including Japan’s Nikkei and Hong Kong’s Hang Seng. However, Shanghai’s Composite Index settled in negative territory.
BENZENE: $1,225-1,260/tonne, down $25-35/tonne
European benzene prices fell in the morning session, dragged down by drops in US overnight benzene spot prices and a bearish derivative demand outlook. August was backwardated at $1,220-1,250/tonne
STYRENE: $1,650-1,700/tonne, stable
European styrene spot prices were unchanged in the morning session, despite benzene spot price falls. Activity was low amid volatile trading conditions. August offers fell slightly to $1,660/tonne, but bids remained at $1,625/tonne.
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