NOON SNAPSHOT - Asia Markets Summary

30 October 2012 04:00  [Source: ICIS news]

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

CRUDE: Dec WTI $85.25/bbl, down 29 cents/bbl; Dec BRENT $108.97/bbl, down 47 cents/bbl
Crude futures weakened in morning trade in Asia amid reduced US demand due to disruptions and refinery shutdowns resulting from the passage of Hurricane Sandy.

NAPHTHA: $960.50-963.50/tonne, up $3.50-4.50/tonne
Open-spec prices for the first half of December contract rose in the morning because of tighter supply in Asia amid rising demand.

BENZENE: $1,285-1,305/tonne FOB Korea, stable
December-loading lots were offered at $1,295/tonne FOB Korea against bids at $1,280-1,285/tonne FOB Korea, whereas offers for January-loading cargoes were at $1,260/tonne FOB Korea, meeting bids at $1,245/tonne FOB Korea.

TOLUENE: $1,200-1,215/tonne FOB Korea, steady
Discussions were limited, with bids for December-loading lots heard at $1,185/tonne FOB Korea, while bids for January-loading cargoes were at $1,183/tonne FOB Korea.

ETHYLENE: $1,340-1,370/tonne CFR NE Asia, unchanged
An offer for a 3,000-tonne cargo from South Korea for loading in end-November/early December was quoted at $1,300/tonne FOB Korea, or equivalent to around $1,370-1,400/tonne CFR NE Asia.

PROPYLENE: $1,350-1,360/tonne CFR NE Asia, flat
Most sellers and traders have sold out November cargoes. Discussions for December shipments have yet to start. Buying ideas remained at $1,350/tonne CFR NE Asia or lower.


By: Staff Reporter
+44 20 8652 3214



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