NOON SNAPSHOT - Asia Markets Summary
08 May 2012 05:00 [Source: ICIS news]
SINGAPORE (ICIS)--Here is Tuesday’s midday Asia oil and chemical market summary from ICIS.
CRUDE: WTI Jun $97.80/bbl, down 14 cents; BRENT Jun $113.53/bbl, up 37 cents
Brent crude futures firmed in the morning as buyers continued to be attracted back into the market following a recent sell-off. US WTI crude futures declined amid expectations of a further build-up in US crude stocks.
NAPHTHA: $946.50-949.50/tonne CFR Japan, up $12.50-13.50/tonne
Open-spec naphtha prices rose as buyers were seeking prompt cargoes to cover their short position. There were no firm bids or offers heard in the morning.
BENZENE: $1,180-1,185/tonne FOB Korea, up $5/tonne
Prices rose as bids for June loading were heard at $1,176-1,178/tonne FOB Korea. Offers for July shipments at $1,175-1,180/tonne FOB Korea were countered by bids at $1,165-1,170/tonne FOB Korea.
TOLUENE: $1,180-1,190/tonne FOB Korea, stable
Prices were unchanged amid a lack of discussions for June-loading cargoes. Offers for July lifting at $1,187-1,190/tonne FOB Korea met bids at $1,175/tonne FOB Korea.
ETHYLENE: $1,270-1,310/tonne CFR NE Asia, stable
Buying interest for first-half June arrival remained at below $1,300/tonne CFR NE Asia, while no offers were heard during the morning.
PROPYLENE: $1,410-1,430 /tonne CFR NE Asia, stable
Buying ideas were unchanged at or below $1,400/tonne CFR NE Asia, partly because of the availability of competitively priced propylene in the Chinese domestic market. However, traders were largely unwilling to match such ideas because of their high procurement costs.
For more pricing intelligence, please visit ICIS pricing
By: Staff Reporter
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