31 March 2011 05:00 [Source: ICIS news]
SINGAPORE (ICIS)--Here is Thursday’s midday Asia oil and chemical market summary from ICIS.
CRUDE: WTI May $104.67/bbl, up 40 cents; BRENT May $115.50/bbl, up 37 cents
Crude futures prices firmed. However, upward price pressure driven by unrest in the Middle East and military action in Libya, was tempered by a larger-than-forecast rise in US crude stocks.
NAPHTHA: $992-995/tonne CFR Japan, down 50 cents/tonne
Asia naphtha prices were largely stable as US crude futures firmed.
BENZENE: $1,150-1,160/tonne FOB Korea, up $15-20/tonne
Prices shot up in line with an overnight hike in US benzene values. Offers for May loading at the high end of the range met bids at $1,150-1,152/tonne FOB Korea, while a deal for June lifting was heard at $1,147/tonne FOB Korea.
TOLUENE: $1,065-1,070/tonne FOB Korea, up $10/tonne
Prices were higher in tandem with an upturn in the region’s benzene values and firm crude futures. A bid for any-May loading was heard at the low end of the range, while the bid-offer range for June shipment was cited at $1,065-1,073/tonne FOB Korea.
ETHYLENE: $1,300-1,360/tonne CFR NE Asia, stable
Trades remained thin as a result of a wide gap in buy-sell ideas. The bulk of buying notions were capped at $1,300/tonne CFR China, with some suppliers withdrawing offers at the $1,400/tonne CFR NE Asia level.
PROPYLENE: $1,570-1,620/tonne CFR NE Asia, stable
Buying ideas were kept at the mid-$1,500s/tonne CFR China, suppressed by persistently low Chinese domestic values. Offers were scant amid tight availability.
For more pricing intelligence, please visit ICIS pricing
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections