15 July 2013 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Monday’s midday European oil and chemical market summary from ICIS.
CRUDE: August WTI: $105.45/bbl, down 50 cents/bbl. August BRENT: $108.60/bbl, down 21 cents/bbl
Crude futures lost ground after China published disappointing GDP data for the second quarter, which showed its economy had slowed further.
NAPHTHA: $899-903/tonne, down $3-4/tonne
The cargo range was assessed down from Friday evening on weaker ICE Brent crude oil futures. August swaps were assessed at $888-890/tonne.
BENZENE: $1,245-1,270/tonne, down $15-20/tonne
The market opened lower following continued losses in the US, weak derivative demand in Europe and ongoing macroeconomic bearishness. August was flat with July.
STYRENE: $1,760-1,800/tonne, down $20/tonne on the buy side
There were no firm price ideas for prompt cargo yet, with buyers keeping to the sidelines amid ongoing bullishness for July and early August. The lower end of the range was assessed down in line with benzene. Offers for the second half of August were at $1,740/tonne but not met with any corresponding bids.
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