28 March 2011 05:00 [Source: ICIS news]
SINGAPORE (ICIS)--Here is Monday’s midday Asia oil and chemical market summary from ICIS.
CRUDE: WTI May $105.16/bbl, down 24 cents; BRENT May $115.53/bbl, down 6 cents
Crude futures edged lower, but remained supported by the military action in Libya and ongoing turmoil in the Middle East.
NAPHTHA: $999–1,002/tonne CFR Japan, down $1/tonne
Naphtha prices for the first half of May eased in the morning amid softer global crude futures.
BENZENE: $1,145–1,155/tonne FOB Korea, stable
Prices were unchanged amid sluggish trading, with one bid heard for May loading at $1,135/tonne FOB Korea. No firm indications were heard, as sentiment remained weak following the recent downturn in US and European benzene values and in Asia’s SM prices.
TOLUENE: $1,065–1,075/tonne FOB Korea, stable
Prices were largely stable as offers for May loading at the high end of the range met bids at $1,062/tonne FOB Korea. The bid-offer range for June shipments was heard at $1,060–1,077/tonne FOB Korea.
ETHYLENE: $1,300-1,350/tonne CFR NE Asia, stable
Ethylene held steady amid thin discussions. Buying notions in Southeast Asia for any-April cargoes emerged at $1,280-1,300/tonne CFR SE Asia, but firm offers were scant.
PROPYLENE: $1,570-1,620/tonne CFR NE Asia, stable
Discussions were subdued amid a wide gap between buy/sell ideas. Buyers in the key China market capped their buying ideas at the mid-$1,500s/tonne CFR China in view of persistently low domestic values, while offers hovered at the mid-$1,600s/tonne CFR China.
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