EVENING SNAPSHOT - Asia Markets Summary

09 May 2012 11:29  [Source: ICIS news]

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

CRUDE: June WTI $96.37/bbl, down 64 cents/bbl; June BRENT $112.00/bbl, down 73 cents
Crude futures softened in afternoon trade, undermined by a stronger US dollar, market concerns over the commitment of Greece and France to agreed austerity measures, and a larger-than-expected build in US crude stocks.

NAPHTHA: $943.00-944.00/tonne CFR Japan, down $4.00-6.00/tonne
Open-spec naphtha prices fell as buyers drew back from the spot market, citing uncertainty in demand because of production problems at some Asian crackers. No trades were reported.

BENZENE: $1,165-1,177/tonne FOB Korea, down $5/tonne at the low end
Offers for June loading at $1,166-1,183/tonne FOB Korea met bids at $1,160-1,163/tonne FOB Korea. Deals were heard for July loading cargoes at $1,161/tonne FOB Korea, while August shipments were heard concluded at $1,160-1,163/tonne FOB Korea.

TOLUENE: $1,165-1,175/tonne FOB Korea, down $10/tonne
Buy-sell ideas for June loading were heard at $1,165-1,175/tonne FOB Korea. Deals were heard for July loading cargoes at $1,168-1,175/tonne FOB Korea, but this could not be confirmed.

ETHYLENE: $1,250-1,300/tonne CFR NE Asia, down $20/tonne at the low end
An end-user in Taiwan received selling interest for June-arrival cargoes at $1,230/tonne CFR NE Asia, but this could not be immediately confirmed. Other selling indications for June arrival were maintained at close to $1,300/tonne CFR NE Asia.

PROPYLENE: $1,350-1,380 /tonne CFR NE Asia, down $10/tonne at the low end
Propylene buying ideas for June arrival slipped to $1,340-1,350/tonne CFR NE Asia against selling ideas of up to $1,380/tonne CFR NE Asia for June arrival.

By: Staff Reporter
+44 20 8652 3214

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