EVENING SNAPSHOT – Asia Market Summary

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

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

CRUDE: WTI JUN $96.85/bbl, down $1.109; BRENT JUN $112.52/bbl, down 64 cents
Crude futures declined in the afternoon on a firmer US dollar and concerns of a global economic slowdown amid political unrest in the eurozone and weak US jobs data.

NAPHTHA: $945.00-947.00/tonne CFR Japan, down $1.50-2.50/tonne
Open-spec naphtha prices fell as buyers stepped back on concerns over the weak economic environment. There were no trades reported.

BENZENE: $1,180-1,185/tonne FOB Korea, stable
Prices remained unchanged as offers for June loading at $1,183-1,185/tonne FOB Korea met bids at $1,178/tonne FOB Korea. Trading was active with four July loading cargoes heard changing hands at $1,170-1,178/tonne FOB Korea.

TOLUENE: $1,180-1,190/tonne FOB Korea, stable
Limited discussions were heard for June loading cargoes, with selling indications at $1,190/tonne FOB Korea countered by buying indications at $1,180/tonne FOB Korea. Two deals were heard for July and August lifting at $1,177/tonne and $1,183/tonne FOB Korea, respectively, but this could not be confirmed.

ETHYLENE: $1,270-1,300/tonne CFR NE Asia, down $10/tonne at the high end
Sporadic selling interest for end-May/first-half June arrivals was at close to $1,300/tonne CFR NE Asia for spot cargoes of Asian origin with buying ideas at the mid-to-high $1,200s/tonne CFR NE Asia, market sources said.

PROPYLENE: $1,360-1,385 /tonne CFR NE Asia, down $45-50/tonne
At least three to four spot cargoes of Korean origin changed hands at $1,370-1,385/tonne CFR China for June arrival while discussions to buy a June shipment were also underway at around $1,360/tonne CFR China, market sources said.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
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