25 June 2012 05:00 [Source: ICIS news]
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CRUDE: Aug WTI $80.25/bbl, up 49 cents/bbl; Aug BRENT $91.35/bbl, up 37 cents/bbl
Crude futures strengthened in Asian morning trade, supported by reduced output in the US Gulf amid concerns over an approaching storm. Interest was focussed on an upcoming summit of eurozone leaders amid expectations of moves towards a closer monetary union, and new measures to stimulate growth.
NAPHTHA: $706.00-708.00/tonne CFR Japan, up $9.50/tonne
Open-spec naphtha prices partially recovered from last week, after landing at a 21-month low on 22 June, buoyed by overnight firmer crude futures.
BENZENE: $1,015-1,035/tonne FOB
Prices firmed in tandem with firmer crude futures. Bids for August loading were at $1,000/tonne FOB
TOLUENE: $980-990/tonne FOB
Market activity was limited. Bids for August and September were heard at $970/tonne FOB
ETHYLENE: $920-950/tonne CFR NE Asia, up $20/tonne at the low end
Selling ideas were as high as $1,000/tonne CFR NE Asia for July arrival due to the ongoing
PROPYLENE: $1,240-1,260/tonne CFR NE Asia, stable
Market players stayed on the sidelines amid limited July supply and following a flurry of deals last week. No firm offers and bids were heard.
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