NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: WTI DEC $85.59/bbl, down 46 cents; BRENT DEC $107.96/bbl, down 53 cents
Crude futures softened in the morning ahead of the release of key data on the US economy.

NAPHTHA: No trades were done as the Singapore market is closed for a public holiday.

BENZENE: $1,282-,1,302/tonne FOB Korea, up by $21/tonne
A December-loading cargo was offered at $1,290/tonne FOB Korea, while bids for December-loading lots were heard at $1,260-1,275/tonne FOB Korea. The intermonth spread for November and December was notionally assessed at a $20/tonne backwardation, because of an unavailability of November-loading cargoes.

TOLUENE: $1,205-1,225/tonne FOB Korea, up by $5/tonne
No discussions for prompt, November or December-loading cargoes were heard. Prices were notionally assessed as higher in line with the trend in benzene prices.

ETHYLENE: $1,340-1,370/tonne CFR NE Asia, stable
Offers for a 3,000 tonne South Korea-origin cargo at $1,370/tonne CFR China for loading in the second half of November fetched bids at $1,350/tonne CFR China. No deals were heard done.

PROPYLENE: $1,350-1,360/tonne CFR NE Asia, up by $10/tonne at low end
Selling ideas hovered at $1,360-1,380/tonne CFR NE Asia while buying ideas were at below $1,350/tonne CFR NE Asia. A deal for end-November delivery was done at $1,355/tonne CFR China.

By: Staff Reporter
+44 20 8652 3214

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