EVENING SNAPSHOT - Asia Markets Summary

02 May 2012 11:00  [Source: ICIS news]

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

CRUDE: WTI JUN $105.77/bbl, down 39 cents; BRENT JUN $119.26/bbl, down 37 cents
Crude futures softened further on Wednesday afternoon amid a strengthening of the US dollar. However, upbeat US manufacturing data from the US and China limited downside pressure.

NAPHTHA: $995.50-997.50/tonne CFR Japan, down $7.00-9.00/tonne
Open-spec naphtha prices for second half June were assessed lower on Wednesday afternoon, undermined by softer crude and weak demand from petrochemical sector.

BENZENE: $1,185-1,190/tonne FOB Korea, stable
Limited bids for June-loading cargoes hovered at $1,185/tonne FOB Korea but no offers emerged. A deal for July-loading parcel was fixed at $1,187/tonne FOB Korea.

TOLUENE: $1,200-1,215/tonne FOB Korea, unchanged
Buying indications were heard around $1,205/tonne FOB Korea for June cargoes in the morning but buying interest was subdued towards the end of the day. Buy-sell indications for July lots were cited at $1,214-1,218/tonne FOB Korea.

ETHYLENE: $1,270-1,310/tonne CFR NE Asia, stable
Selling ideas at the low $1,300s/tonne CFR NE Asia were met with sporadic buying interest at below $1,300/tonne CFR NE Asia.

PROPYLENE: $1,450-1,460 /tonne CFR NE Asia, down $10/tonne at the high end
Buying ideas were at $1,420-1,430/tonne CFR NE Asia but most traders were unwilling to offload spot cargoes at below $1,450/tonne CFR NE Asia because of the high costs of procuring the shipments.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
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