04 November 2013 12:00 [Source: ICIS news]
LONDON (ICIS)--Here is Monday’s midday European oil and chemical market summary from ICIS.
CRUDE: December WTI: $94.67/bbl, up 6 cents/bbl. December BRENT: $106.18/bbl, up 27 cents/bbl
Crude futures edged higher on Monday finding support from bullish manufacturing data out of China which was released last week.
NAPHTHA: $896-897/tonne, down $17/tonne
The cargo range was assessed down from Friday evening on a fall in ICE Brent crude futures. December swaps were assessed at $891-893/tonne.
BENZENE: $1,155-1,175/tonne, down $10/tonne
The market opened slightly lower this morning amid limited activity in Asia earlier today and a steady US market. December was backwardated at $1,145-1,170/tonne while January numbers were firmer at $1,160-1,190/tonne.
STYRENE: $1,610-1,650/tonne, widening
November bids and offers were wider this morning, with firmer Asian numbers helping mitigate some of the downward movement in Europe seen towards the end of last week. Offers for the second half of the month were lower at $1,640/tonne, indicating that some prompt availability concerns are still lingering. December was valued at $1,585-1,610/tonne, while January offers were also at $1,610/tonne. The November barge contract was confirmed at €1,365/tonne FOB ARA, down €85/tonne from the previous month’s settlement.
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