NOON SNAPSHOT - Asia Markets Summary

15 October 2012 05:00  [Source: ICIS news]

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

CRUDE: WTI NOV $91.07/bbl, down 79 cents; BRENT NOV $114.07/bbl, down 55 cents
Crude futures declined on Monday morning, undermined by a stronger US dollar and concerns over the health of the European and US economies. Downward pressure was limited by Middle East tensions and improved economic data from China.

NAPHTHA: $975.50-978.50/tonne CFR Japan, down $8-9/tonne
Open-spec prices for the second-half November contract fell in the morning, in tandem with losses in global crude futures.

BENZENE: $1,255-1,270/tonne FOB Korea, stable
Benzene prices were assessed as stable amid limited discussions for prompt and November-loading cargoes. Meanwhile, December-loading cargoes were offered at $1,235-1,240/tonne FOB Korea against bids at $1,219-1,230/tonne FOB Korea.

TOLUENE: $1,220-1,240/tonne FOB Korea, stable
Price indications were at within the assessed price range. A sole bid for first-half November-loading lots was at $1,220/tonne FOB Korea.

ETHYLENE: $1,300-1,350/tonne CFR NE Asia, stable
Selling notions for November-loading cargoes were reiterated at $1,270-1,280/tonne FOB Taiwan on squeezed margins. Discussions, however, were subdued.

PROPYLENE: $1,300-1,350/tonne CFR NE Asia, stable
Selling ideas remained at around $1,350/tonne CFR NE Asia against buying ideas capped at $1,300/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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