NOON SNAPSHOT Europe Markets Summary

14 April 2014 12:00 Source:ICIS News

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

CRUDE: May WTI: $103.60/bbl, down $0.14/bbl. May BRENT: $107.35/bbl, up $0.02/bbl
Increased tensions in Ukraine saw Brent briefly post gains of over $1/bbl in early trading, but the gains were subsequently wiped out on the back of a firm US dollar and the restart of the Libyan Zawiya refinery.

NAPHTHA: $929-931/tonne, down $2/tonne
Cargoes were assessed lower on slightly softer crude oil prices. May swaps were assessed at $908-910/tonne.

BENZENE: $1,445-1,470/tonne, down $5/tonne on the buy side
April bids opened slightly lower this morning in a quiet market. May remained backwardated with a range of $1,390-1,425/tonne heard.

STYRENE: $1,620-1,635/tonne, down $10/tonne on the sell side
April was offered at $1,635/tonne this morning but there were no firm corresponding bids. May was valued at $1,615-1,635/tonne.

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By Staff Reporter