NOON SNAPSHOT – Asia Market Summary

20 April 2012 05:00  [Source: ICIS news]

SINGAPORE (ICIS)--Here is Friday’s midday Asia oil and chemical market summary from ICIS.

CRUDE: WTI May $102.71/bbl, up 44 cents; BRENT June $118.30/bbl up 30 cents
Crude futures strengthened in the morning supported by a weaker US dollar, easing eurozone debt worries and lingering Iran concerns.  

NAPHTHA: $1,037.50-1,040.50/tonne CFR Japan, down $5.50-6.50/tonne
Open-spec naphtha prices fell on the back of news of GS Caltex’s unexpected full-range naphtha splitter outage and of higher seaborne oil exports from OPEC. There were no firm bids or offers heard.

BENZENE: $1,185-1,195/tonne FOB Korea, up $5/tonne
Prices firmed from Thursday’s close with bids for loading in June heard at $1,188-1,190/tonne FOB Korea. Offers for lifting in July at $1,192-1,200/tonne FOB Korea met bids at $1,189-1,190/tonne FOB Korea.

TOLUENE: $1,208-1,218/tonne FOB Korea; up $1/tonne at high end
Prices were largely stable for May as no discussions were heard. The bid-offer range for June loading was heard at $1,209-1,218/tonne FOB Korea, while the bid-offer range for July loading was heard at $1,212-1,220/tonne FOB Korea.

ETHYLENE: $1,390-1,410/tonne CFR NE Asia, down $10/tonne
A 3,000 tonne regional spot cargo was sold to an end-user in China at slightly above $1,400/tonne CFR for mid-May arrival, market sources said.

PROPYLENE: $1,500-1,530/tonne CFR NE Asia, down $20/tonne at the high end
Buyers generally retreated to the sidelines in anticipation of further price declines and no bids emerged. Buying ideas were mainly hovering at below $1,500/tonne CFR NE Asia for first-half May arrival against selling interest at $1,520-1,530/tonne CFR NE Asia.

For more pricing intelligence, please visit ICIS pricing


By: Staff Reporter
+44 20 8652 3214

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