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NOON SNAPSHOT – Europe Markets Summary

ICIS News : 9-Jan-13 12:00

LONDON (ICIS)--Here is Wednesday’s midday European oil and chemical market summary from ICIS.

CRUDE: February WTI: $93.02/bbl, down 13 cents/bbl. February BRENT: $111.82/bbl, down 12 cents/bbl
Crude oil futures edged lower on expectations that US oil stocks will have increased. The official Energy Information Administration weekly stock report is due later on Wednesday.

NAPHTHA: $936-938/tonne, up $3/tonne
The cargo range edged up as a result of a stronger crack spread. February swaps were assessed at $932-934/tonne.

BENZENE: $1,350-1,390/tonne, down $45-75/tonne
Softening prices in both the US and Asia continue to pull European prices down this morning. January later traded at $1,375/tonne. February was flat with January.

STYRENE: $1,620-1,640/tonne, down $20-30/tonne
January offers were lower this morning at $1,640/tonne as upstream values came off. There were no firm corresponding bids yet, however. February was valued at $1,600-1, 650/tonne, the range widening amid uncertain direction for the forward month.

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By Staff Reporter
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