22 August 2011 05:00 [Source: ICIS news]
SINGAPORE (ICIS)--Here is Monday’s midday Asia oil and chemical market summary from ICIS.
CRUDE: WTI Sept $82.39/bbl, up 13 cents; BRENT Oct $106.50/bbl, down $2.12
Crude prices were mixed, with Brent for October delivery falling by more than $2/bbl on news that the six-month long civil conflict in Libya could soon reach a conclusion as rebels entered the capital Tripoli over the weekend.
NAPHTHA: $932.50-935.50/tonne CFR Japan, up $8.50-9.50/tonne
Prices for the first half of October rose in the morning, despite the drop in Brent crude futures. Tighter supply helped to support prices.
BENZENE: $1,100-1,110/tonne FOB Korea, stable
Buying sentiment was subdued because of the uncertainty in upstream markets, with limited discussions heard for October-loading cargoes. Offers for November-loading cargoes were heard at $1,115/tonne FOB Korea, against bids at $1,085-1,090/tonne FOB Korea.
TOLUENE: $1,140-1,160/tonne FOB Korea, stable
No discussions were heard for September-loading cargoes, while offers for October were heard at $1,130-1,135/tonne FOB Korea against bids at $1,110/tonne FOB Korea.
ETHYLENE: $1,160-1,180/tonne CFR NE Asia, stable
No offers were heard, but some market players said there was a spot cargo from the Middle East available for sale at below $1,200/tonne CFR NE Asia.
PROPYLENE: $1,570-1,590/tonne CFR NE Asia, stable
The recent volatility in upstream crude prices kept buyers and sellers on the sidelines. No fresh offers and bids were heard following several deals done at $1,550-1,600/tonne CFR NE Asia last week.
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