01 November 2013 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Friday’s midday European oil and chemical market summary from ICIS.
CRUDE: December WTI: $96.25/bbl, down $0.13/bbl. December BRENT: $108.60/bbl, down $0.24/bbl
Crude futures lost ground as the US dollar firmed in the currency markets, however, positive economic data from China and on-going concerns over Libyan supply disruptions provided some support.
NAPHTHA: $920-921/tonne, up $3/tonne.
The cargo range was assessed up on a stronger crack spread, which in turn was boosted by high-volume exports to Asia. November swaps were assessed at $914-916/tonne.
BENZENE: $1,150-1,165/tonne, steady
The range for November was unchanged in a quiet market owing to holidays across much of Europe. December was valued at $1,140-1,165/tonne while January remained in contango at $1,150-1,190/tonne.
STYRENE: $1,630-1,680/tonne, steady
There were no firm buy/sell indications for November and the range was steady. Recent bullishness for prompt cargo has kept many buyers on the sidelines amid unchanged fundamentals. December was backwardated at $1,600-1,620/tonne.
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