NOON SNAPSHOT Europe Markets Summary

19 July 2013 12:00  [Source: ICIS news]

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

CRUDE: August WTI: $108.25/bbl, up 21 cents/bbl. September BRENT: $108.69/bbl, down 1 cent/bbl
WTI crude oil futures edged lower, pressured by bearish news from the US that the City of Detroit has filed for bankruptcy.

NAPHTHA: $897-899/tonne, up $6/tonne
The cargo range was assessed up on a stronger crack spread.
August swaps were assessed at $892-894/tonne.

BENZENE: $1,215-1,240/tonne, up $5-15/tonne
July opened firmer as the US market posted further gains overnight. Asian spot numbers were also buoyed by the current bullishness on styrene in the region. July later traded at $1,230/tonne.

STYRENE: $1,760-1,795/tonne, steady
There was still limited visibility for July pricing, with offers still firm on continued gains seen in Asia and prompt supply concerns. August was valued at $1,725-1,760/tonne, and there is talk that material may start to leave Europe for Asia should the arbitrage window open further.

For more pricing intelligence visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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