NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: WTI Nov $92.18/bbl, up 6 cents/bbl; BRENT Dec $113.47/bbl, up 25 centsCrude futures rose in the morning, supported by upbeat economic data from the US, but a firmer US dollar and a larger-than-expected build in US crude stocks limited the upward price trend.

NAPHTHA: $980.50-983.50/tonne CFR Japan, down $3-4/tonne
Open-spec prices for first-half December contracts fell in the morning, undermined by overnight losses in Brent crude futures.

BENZENE: $1,270-1,290/tonne FOB Korea, stable
Prices were stable in the morning, because of limited talks for prompt and November-loading lots. Meanwhile, a deal for a December-loading lot was concluded at $1,264/tonne FOB Korea.

TOLUENE: $1,220-1,235/tonne FOB Korea, stable
Discussions for prompt and November-loading cargoes were limited, as buying sentiment from the end-users remained weak because of the current firm prices.

ETHYLENE: $1,310-1,350/tonne CFR NE Asia, up $10/tonne at low end
Sporadic bids were heard at up to $1,310/tonne CFR NE Asia for a 3,500 tonne cargo for arrival in the second half of November after offers at $1,350-1,360/tonne CFR NE Asia were rejected.

PROPYLENE: $1,330-1,350/tonne CFR NE Asia, stable
Selling ideas for November shipments hovered at $1,350/tonne CFR NE Asia or above, while buying ideas were capped at $1,320-1,330/tonne CFR NE Asia.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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