18 October 2013 12:05 [Source: ICIS news]
LONDON (ICIS)--Here is Friday’s midday European oil and chemical markets summary from ICIS.
CRUDE: November WTI: $100.88/bbl, up 21 cents/bbl. December BRENT: $109.52/bbl, up 41 cents/bbl
Crude oil futures rose from Thursday’s close as China, the world’s second largest oil consumer, registered GDP growth of 7.8% in the third quarter. Investor caution amid China’s over-reliance on investments rather than local consumption to fuel the growth trimmed gains in the oil markets.
NAPHTHA: $911-913/tonne, up $2/tonne
The cargo range was assessed up from Thursday evening on slightly higher ICE Brent crude oil futures.
November swaps were assessed at $912-913/tonne.
BENZENE: $1,150-1,170/tonne, down $5-15/tonne
European numbers for October were down this morning in line with Asia and the US, with domestic availability healthy on weak downstream demand. November was in a slight contango at $1,155-1,175/tonne.
STYRENE: $1,560-1,575/tonne, down $15/tonne
October spot numbers opened lower amid overall bearish sentiment following sustained losses in the Asian market. Availability in Europe is healthy due to higher producer operating rates and seasonally slow demand. November was flat with October.
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