07 October 2013 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Monday’s midday European oil and chemical market summary from ICIS.
CRUDE: November WTI: $102.62/bbl, down $1.22/bbl. November BRENT: $108.24/bbl, down $1.22/bbl
Crude oil futures were trading in negative territory on Monday because of the on-going partial shutdown of the US government and concerns over the US debt ceiling.
NAPHTHA: $877.50-878.00/tonne, down $9/tonne on the low end, down $10/tonne on the high end
The cargo range was assessed down on lower ICE Brent crude oil futures. November swaps were assessed at $875-876/tonne.
BENZENE: $1,235-1,250/tonne, steady
With players attending the European Petrochemical Association (EPCA) meeting in Berlin, the spot market was quiet and difficult to gauge. The range for October was steady although further weakness on crude oil and poor downstream demand is likely to pull numbers down.
STYRENE: $1,645-1,675/tonne, steady
The bid/offer range for October was assessed steady so far, with market players at the EPCA meeting. Sentiment for the fourth quarter is mixed, with some potential tightness stemming from an upcoming shutdown in the US, although demand remains slow ahead of the year-end.
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