NOON SNAPSHOT Europe Markets Summary

31 December 2013 12:00 Source:ICIS News

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

CRUDE: February WTI: $98.97/bbl, down 32 cents/bbl. February BRENT: $111.33/bbl, up 12 cents/bbl
Brent crude oil futures edged higher, finding support from reports that claim China’s rising debt fears are unlikely to cause a credit crunch in the world’s second largest economy.

NAPHTHA: $954-955/tonne, down $3/tonne
Prices were assessed down on a weaker crack spread. Swaps were assessed at $956-957/tonne.

BENZENE: $1,370-1,380/tonne, down $5/tonne on the sell side
The market was quiet ahead of the New Year holiday with limited participation from buyers and sellers. January was assessed slightly lower on the offer side in line with minor losses in Asia overnight and a widening range in the US.

STYRENE:  $1,700-1,720/tonne, steady
The spot market remained quiet so far and the range was unchanged, with no firm buy/sell interest noted. February was valued flat with January.

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By Staff Reporter