11 September 2013 12:00 [Source: ICIS news]
LONDON (ICIS)-- Here is Wednesday’s midday European oil and chemical market summary from ICIS.
CRUDE: October WTI: $107.59/bbl, up 20 cents/bbl. October BRENT: $112.10/bbl, up 85 cents/bbl.
Crude oil futures on Wednesday rose from the previous close on lingering uncertainties over a US response to the Syrian conflict.
NAPHTHA: $940-942/tonne, up $5/tonne
The cargo range was assessed up from Tuesday evening on sligthly firmer ICE Brent crude oil futures. October swaps were assessed at $930-932/tonne.
BENZENE: $1,305-1,325/tonne, up $10-15/tonne
The market pushed back up this morning as the downward slide on crude oil came to a halt midweek. October remained in contango at $1,310-1,330/tonne, with sentiment for the fourth quarter still bullish owing to seasonal strength and several planned cracker shutdowns likely to impact feedstock availability.
STYRENE: $1,820-1,880/tonne, up $20/tonne on the sell side
Offers for September were firmer this morning following a deal heard at $1,860/tonne on Tuesday. However, the gap between buyers and sellers remains wide, limiting any potential trading activity. October was still backwardated at $1,760-1,790/tonne.
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