12 October 2011 11:00 [Source: ICIS news]
SINGAPORE (ICIS)--Here is Wednesday’s end-of-day Asia oil and chemical market summary from ICIS.
CRUDE: WTI Nov $86.32/bbl, up 51 cents; BRENT Nov $111.64/bbl, up 91 cents
Crude futures strengthened, buoyed by a weaker US dollar and hopes of a deal to expand the eurozone rescue fund. Prices rose despite forecasts of lower demand by OPEC and the International Energy Agency (IEA).
NAPHTHA: $906.25-908.75/tonne CFR Japan, up $20-21/tonne
Prices for the second-half of November rose, supported by higher global crude futures.
BENZENE: $1,000-1,010/tonne FOB Korea, up $20/tonne
Sentiment firmed across the aromatics markets following the shutdown of a South Korean facility. Bids for second-half November loading cargoes were at $980-1,000/tonne FOB Korea, while two deals were heard for December and January loading at $1,015/tonne and $980/tonne FOB Korea respectively.
TOLUENE: $1,075-1,090/tonne FOB Korea, up $5/tonne
Prices edged higher in tandem with an increase in WTI crude futures and following a sudden shutdown at a South Korean facility, market participants said. The bid-offer range for November loading was at the published range, while two deals for December and January loading were heard at $1,055/tonne and $1,018/tonne FOB Korea respectively.
ETHYLENE: $1,070-1,100/tonne CFR NE Asia, stable
Discussions were heard at close to the high end of the range for November-arrival cargoes but further details were not available.
PROPYLENE: $1,440-1,460/tonne CFR NE Asia, stable
Selling ideas were heard at $1,460-1,480/tonne CFR NE Asia against buying ideas in the low-to-mid $1,400s/tonne CFR NE Asia, market sources said.
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