12 August 2013 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Monday’s midday European oil and chemical market summary from ICIS.
CRUDE: September WTI: $106.23/bbl, up 26 cents/bbl. September BRENT: $108.17/bbl, down 5 cents/bbl
WTI crude oil futures edged higher on Monday finding support from firmer Asia stock indices seeing gains in the Shanghai Composite index in China and Hong Kong’s Hang Seng index. However, Japan’s Nikkei 225 index settled in negative territory on disappointing GDP results.
NAPHTHA: $897-899/tonne, up $9/tonne
The cargo range climbed from Friday afternoon, driven by higher crude oil prices. September swaps were assessed at $888-890/tonne.
BENZENE: $1,240-1,265/tonne, up $15-25/tonne
August opened firmer this morning alongside steady-to-firm Asian pricing and higher naphtha numbers. The US market also posted gains towards the end of last week, supporting the current upward momentum. September was in contango, valued at $1,255-1,280/tonne.
STYRENE: $1,715-1,745/tonne, up $5/tonne on the sell side
August offers edged up slightly this morning, with the upward movement in Asia appearing to lose some steam earlier. September was flat with August.
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