EVENING SNAPSHOT - Asia Markets Summary

15 June 2012 12:01  [Source: ICIS news]

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

CRUDE: July WTI $84.58/bbl, up 67 cents; Aug BRENT $97.84/bbl, up 67 cents
Crude oil prices were higher in afternoon trade after OPEC said that it will keep its output quota unchanged in the second half of this year.

NAPHTHA: $756.00-758.00/tonne CFR Japan, up $5.50/tonne
Open-spec naphtha prices firmed, buoyed by a deal settled for second-half August loading at $758.00/tonne CFR Japan.  

BENZENE: $1,015-1,025/tonne FOB Korea, up $20/tonne
Bids for second-half July loading were heard at $980-1,005/tonne FOB Korea, while the intermonth spread for July and August remained at a backwardation. A deal for September lifting was heard at $995/tonne FOB Korea.

TOLUENE: $985-1,000/tonne FOB Korea, up $15-20/tonne
Prices firmed in tandem with stronger energy values. Offers for July loading at $1,005-1,010/tonne FOB Korea met bids at $980/tonne FOB Korea. Bids for August shipment were cited at $980-981/tonne FOB Korea.

ETHYLENE: $880-920/tonne CFR NE Asia, stable
A deal for a 2,300 tonne northeast Asia origin cargo was reported at $880/tonne CFR China for mid-July arrival.

PROPYLENE: $1,230-1,270/tonne CFR NE Asia, up by $10/tonne at the high end
A deal for a second-half July cargo was concluded at $1,271/tonne CFR China. Selling ideas hovered at $1,270-1,280/tonne CFR China, against buying ideas at $1,230-1,240/tonne CFR China.

By: Staff Reporter
+44 20 8652 3214

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