13 December 2010 14:00 [Source: ICIS news]
LONDON (ICIS)--Here is Monday's midday European oil and chemical market summary from ICIS.
CRUDE: January WTI: $88.90/bbl, up $1.11/bbl. January BRENT: $91.86/bbl, up $1.38/bbl
Futures climbed more than $1/bbl, supported by OPEC's decision to leave output levels unchanged at its weekend meeting. Strong demand caused by the cold winter weather in the northern hemisphere was also supporting this upside.
NAPHTHA: $830-840/tonne, up $14/tonne
Cargo prices gained on the back of higher crude oil futures. January swaps were at $830-831/tonne.
BENZENE: $1,005-1,020/tonne, down $5/tonne on the buy side
December bids were marginally down from the previous week's close this morning, while January remained in contango at $1,020-1,040/tonne.
STYRENE: $1,240-1,255/tonne, up $5/tonne on the buy side
December bids and offers were relatively steady this morning, in line with crude values. Bids for January were at $1,265/tonne but not met with any offers yet.