EVENING SNAPSHOT - Asia Markets Summary

17 May 2012 11:23  [Source: ICIS news]

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

CRUDE: June WTI $93.07/bbl, up 26 cents/bbl; July BRENT $109.82/bbl, up 7 cents/bbl
Crude futures firmed in afternoon trade, with ICE Brent recovering from losses. But eurozone worries and concerns that Greece could exit the single-currency region weighed on the market.

NAPHTHA: $897.00-898.00/tonne CFR Japan, down $4.50-6.50/tonne
Open-spec naphtha prices declined as major cracker operators chose to stay away from the spot market. No trades were reported at the end of the day.

BENZENE: $1,070-1,085/tonne FOB Korea, down $10 at the high end
Trading remained lacklustre in the afternoon with discussion levels for July heard at about $1,070/tonne FOB Korea level. Offers for August loading at $1,073-1,080/tonne FOB Korea met bids at $1,065/tonne FOB Korea.

TOLUENE: $1,075-1,090/tonne FOB Korea, steady
Discussions were limited in the afternoon, with the July bid-offer range heard at $1,068-1,078/tonne FOB Korea. Offers for August at $1,070/tonne FOB Korea met bids at $1,060/tonne FOB Korea.

ETHYLENE: $1,150-1,180/tonne CFR NE Asia, down $10/tonne at the high end
An ethylene spot cargo of more than 4,000 tonnes from southeast Asia was sold at $1,160-1,170/tonne CFR China for mid-June arrival.

PROPYLENE: $1,290-1,330 /tonne CFR NE Asia, stable
Four spot cargoes of northeast Asia origin changed hands within the $1,290-1,340/tonne CFR China range, for arrival in the first half to middle of June. Majority of the deals were done at close to $1,300/tonne CFR China.

By: Staff Reporter
+44 20 8652 3214

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