EVENING SNAPSHOT - Asia Markets Summary

16 June 2011 11:14  [Source: ICIS news]

SINGAPORE (ICIS)--Here is Thursday’s end-of-day Asia oil and chemical market summary from ICIS.

CRUDE: WTI Jul $94.96/bbl, up 15 cents BRENT Aug $113.91/bbl, up 91 cents
Crude futures firmed, although gains seen in the morning dropped in the afternoon as the US dollar strengthened against the euro. Crude futures were supported by a fall in US crude stocks and a softer US dollar. Crude prices fell overnight on worries over Greek debt.

NAPHTHA: $948.00-950.00/tonne CFR Japan, down $18.50-19.50/tonne
Naphtha prices were assessed as lower on Thursday, undermined by overnight falls in crude. However, naphtha prices strengthened in the morning, supported by stronger naphtha cracks.

BENZENE: $1,085-1,095/tonne FOB Korea, stable
Prices were stable amid the trend reversal in crude futures. Offers for cargoes to be loaded in August were heard at $1,086-1,090/tonne FOB Korea, against bids at $1,081-1,085/tonne FOB Korea.

TOLUENE: $1,060-1,070/tonne FOB Korea, up $10/tonne
Prices rebounded in the afternoon in line with the rise in energy futures. Bids for cargoes to be loaded in the second half of July were heard at $1,061/tonne FOB Korea, while a deal for cargoes to be loaded in the first half of August was heard at $1,058/tonne FOB Korea.

ETHYLENE: $1,100-1,130/tonne CFR NE Asia, unchanged
Trade remained subdued with no firm bids heard done as market players adopted a wait-and-see stance. Selling indications at above $1,130/tonne CFR NE Asia saw weak interest with buying indications remaining at around $1,100/tonne CFR NE Asia.

PROPYLENE:  $1,400-1,440/tonne CFR NE Asia, down $10-20/tonne
In northeast Asia, sellers lowered their offers to $1,440-1,460/tonne CFR China for shipments in July, but buying ideas were at $1,400/tonne CFR China.

For more pricing intelligence, please visit ICIS pricing 


By: Staff Reporter
+44 20 8652 3214



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