EVENING SNAPSHOT - Asia Markets Summary

26 October 2012 11:00  [Source: ICIS news]

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

CRUDE: Dec WTI $85.34/bbl, down 71 cents/bbl; Dec BRENT $107.92/bbl, down 57 cents/bbl
Crude futures continued to trade below the previous session's close in afternoon trade, ahead of the release of US’ key economic data later in the day.

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

BENZENE: $1,282-1,302/tonne FOB Korea, stable
Discussions for November- and December-loading lots were limited, with a sole bid for December-loading lot at $1,270/tonne FOB Korea. The intermonth spread between November and December was notionally assessed at a $20/tonne backwardation

TOLUENE: $1,206-1,215/tonne FOB Korea, up $1/tonne at the low end while down $10/tonne at the high end
Spot discussions for November- and December-loading cargoes were scarce. A bid for November-loading parcel was at $1,210/tonne FOB Korea, while a bid for December-loading lot was at $1,205/tonne FOB Korea. An offer for January-loading lot was at $1,190/tonne FOB Korea.

ETHYLENE: $1,340-1,370/tonne CFR NE Asia, steady
Trades were thin, with buyers adopting a wait-and-see stance following recent declines in crude and naphtha values. Selling indications were reiterated in the high-$1,300/tonne CFR NE Asia levels amid a quiet market.

PROPYLENE: $1,350-1,360/tonne CFR NE Asia, stable
Selling ideas hovered at $1,360-1,380/tonne CFR NE Asia, while buying ideas were capped at $1,350/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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