NOON SNAPSHOT Europe Markets Summary

02 September 2013 12:00  [Source: ICIS news]

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

CRUDE: October WTI: $106.99/bbl, down 66 cents/bbl. October BRENT: $114.17/bbl, up 16 cents/bbl
WTI futures weakened as expectations of a US military strike against Syria eased after US President Barack Obama said he would seek congressional approval for military action.

NAPHTHA: $938-942/tonne, down $12/tonne
The cargo range was assessed down on the upstream ICE Brent crude oil futures.
September swaps were assessed at $937-939/tonne.

BENZENE: $1,280-1,300/tonne, up $5-15/tonne
September edged up this morning, supported by continued bullishness on styrene and steady Asian spot numbers.

STYRENE: $1,900-2,000/tonne, up $20/tonne on the sell side
The market remained firm this morning alongside a renewal of bullishness in the Asian market, with September offers as high as $2,000/tonne and no firm bids. October was backwardated at $1,760-1,800/tonne.



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By: Staff Reporter
+44 20 8652 3214



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