NOON SNAPSHOT - Asia Markets Summary

14 September 2012 05:00  [Source: ICIS news]

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

CRUDE: WTI Oct $99.08/bbl, up 77 cents; BRENT Nov $116.55/bbl, up 67 cents
Crude futures rose in early Asian trade on the back of speculation that the latest stimulus measures by the US Federal Reserve will boost demand for oil.

NAPHTHA: $1,000.50-1,003.50/tonne CFR Japan, up $5.50-6.50/tonne
Open-spec prices for the second-half October contracts rose in the morning in tandem with crude futures.

BENZENE: $1,245-1,255/tonne FOB Korea, stable
Discussions for prompt cargoes were limited. Second-half October-loading lots were offered at $1,230-1,235/tonne FOB Korea, while November-loading lots were offered at $1,225-1,240/tonne FOB Korea against bids at $1,205-1,215/tonne FOB Korea.

TOLUENE: $1,185-1,200/tonne FOB Korea, up $5/tonne at the low end
Prices firmed at the low end of the range, because of higher bids and offers in the market. Bids for November-loading lots were at $1,185/tonne FOB Korea, while December-loading lots were offered at $1,210/tonne FOB Korea against bids at $1,180/tonne FOB Korea.

ETHYLENE: $1,270-1,320/tonne CFR NE Asia, stable
A deal for an end-September loading 5,000 to 6,000 tonne cargo and bound for Europe was heard concluded at $1,250/tonne FOB Taiwan, which is equivalent to around $1,350/tonne CFR NE Asia. However, trade remained subdued, because of a wide buy-sell spread.

PROPYLENE: $1,380-1,400/tonne CFR NE Asia, stable
Selling ideas were at around $1,400/tonne CFR NE Asia, while buying ideas were at $1,380-1,390/tonne CFR NE Asia.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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