NOON SNAPSHOT Europe Markets Summary

23 April 2014 12:00 Source:ICIS News

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

CRUDE: June: $101.33/bbl, down 42 cents/bbl. June BRENT: $109.40/bbl, up 13 cents/bbl
Brent crude futures edged higher on news that two cargoes of North Sea Forties crude that was scheduled to load in April has now been postponed until May. Meanwhile, expectations of a build in US crude stocks last week pressured WTI.

NAPHTHA: $927-929/tonne, up $5/tonne
The cargo range was assessed higher on firmer crude numbers. May swaps were assessed at $924-926/tonne.

BENZENE: $1,405-1,460/tonne, down $30-40/tonne
European benzene prices fell this morning, following movements in the US and Asia. May prices were also down $20/tonne at $1,370-1,400/tonne, still backwardated.

STYRENE: $1,595-1,635/tonne, down $5-25/tonne
European styrene prices were down on weaker benzene prices and global aromatics weakness overnight. May’s bid-offer spread was in line with April’s at $1,595-1,635, down $15-$35/tonne.

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By Staff Reporter