05 June 2012 05:00 [Source: ICIS news]
SINGAPORE (ICIS)--Here is Tuesday’s midday ?xml:namespace>
CRUDE: July WTI $84.70/bbl, up 72 cents; July BRENT $99.28/bbl, up 43 cents
Crude prices were higher in Asia on the back of a weaker US dollar and amid hopes that a meeting between G7 countries later on Tuesday would spur moves to resolve the eurozone debt crisis.
NAPHTHA: $774.00-777.00/tonne CFR Japan, up $19.50-20.50/tonne
Open-spec naphtha prices rebounded, following overnight gains in energy values. However, market sentiment remained bearish on poor petrochemical demand.
BENZENE: $970-990/tonne FOB
Prices firmed on the back of stronger crude futures, with the inter-month spread for July and August heard at about $30/tonne backwardation. Bids for August were heard at $925-960/tonne FOB
TOLUENE: $960-970/tonne FOB
The market recovered slightly with a rebound in energy prices. A sole offer for July loading was heard at $1,000/tonne FOB
ETHYLENE: $950-1,000/tonne CFR NE Asia, down $20/tonne at the low end
Trading was thin as buyers remained on the sidelines. Buying ideas declined by $50/tonne to $900-950/tonne CFR NE Asia for end-June arrival cargoes, but firm offers were scarce.
PROPYLENE: $1,250-1,270 /tonne CFR NE Asia, down $10/tonne at high end
Selling ideas were at around $1,270-1,280/tonne CFR China against buying ideas at about $1,250/tonne CFR China.
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