EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Nov WTI $90.24/bbl, up 26 cents/bbl; Nov BRENT $110.26/bbl, up 22 cents/bbl
Crude futures edged higher in afternoon trade, supported by an unexpected fall in US crude stocks and Middle East tensions. But upside pressure was offset by concerns over the eurozone and weakness of the global economy.

NAPHTHA: $956.00-958.00/tonne CFR Japan, up $1.50-2.50/tonne
Open-spec prices for the first-half November contracts rose in the afternoon, supported by a closed arbitrage window, indicating limited deep-sea flows from Europe.

BENZENE: $1,215-1,230/tonne FOB Korea, stable
Discussions for October- and November-loading cargoes were limited in the afternoon. Offers for December-loading lots were at $1,199-1,200/tonne FOB Korea against bids at $1,188/tonne FOB Korea. January-loading cargoes were offered at $1,190-1,200/tonne FOB Korea.

TOLUENE: $1,170-1,180/tonne FOB Korea, up $5/tonne at the low end
Offers for second-half October-loading lots were at $1,175-1,180/tonne FOB Korea, while November-loading lots were offered at $1,180/tonne FOB Korea. A deal was done at $1,165/tonne FOB Korea for a December-loading cargo.

ETHYLENE: $1,300-1,350/tonne CFR NE Asia, flat
Northeast Asia discussions were subdued, whereas bids in southeast Asia were firm at $1,350-1,370/tonne CFR SE Asia for second-half October-arrival cargoes amid tight supply.

PROPYLENE: $1,370-1,390/tonne CFR NE Asia, down $10/tonne at the low end
Selling ideas for second-half October/early November cargoes were at around $1,390/tonne CFR NE Asia against buying ideas capped at $1,360-1,380/tonne CFR NE Asia. Several deals were concluded at $1,370-1,375/tonne CFR China.

By: Staff Reporter
+44 20 8652 3214

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