EVENING SNAPSHOT - Asia Markets Summary

07 September 2012 11:00  [Source: ICIS news]

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

CRUDE: WTI Oct $95.83/bbl, up 30 cents; BRENT Oct $113.85/bbl, up 36 cents
Crude prices strengthened on Friday afternoon, recovering ground lost during the morning. Prices were buoyed by a softer US dollar and ahead of the release of a key US employment report which may influence US Federal Reserve views on further monetary stimulus.

NAPHTHA: $999.50-1001.50/tonne CFR Japan, up $13.00-14.00/tonne
Open-spec prices for the second-half October contract rose during the afternoon session on Friday on the back of a rebound in Brent crude futures. The spread between the first half of November and the second half of November contracts was done at $7.50/tonne between seller Glencore and buyer BP.

BENZENE: $1,215-1,225/tonne FOB Korea, up $5/tonne
Prices continued to rise on the back of firmer crude futures. A deal was fixed for an October-loading lot at $1,220/tonne FOB Korea. Meanwhile, November-loading lots were offered at $1,190-1,200/tonne FOB Korea against bids at $1,185-1,195/tonne FOB Korea.

TOLUENE: $1,155-1,170/tonne FOB Korea, stable
Prices remained stable amid range-bound discussion levels. October-loading lots were offered at $1,170/tonne FOB Korea against bids at $1,160/tonne FOB Korea, while bids for November-loading lots were at $1,145-1,154/tonne FOB Korea.

ETHYLENE: $1,300-1,350/tonne CFR NE Asia, down $20/tonne on low end
Discussions were ongoing to sell a 3,000 tonne northeast Asia origin cargo at around $1,300/tonne CFR China for arrival in the first half of October. However, some buyers said firm upstream naphtha values may bolster ethylene discussions at the $1,300-1,350/tonne CFR NE Asia level in the broader market.

PROPYLENE: $1,370-1,400/tonne CFR NE Asia, down by $20/tonne
Two deals for October shipment were fixed at $1,370-1,380/tonne CFR China. An end-user bought a cargo at $1,395/tonne CFR China

For more pricing intelligence, please visit ICIS pricing


By: Staff Reporter
+44 20 8652 3214



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