EVENING SNAPSHOT - Asia Markets Summary

02 November 2012 10:00  [Source: ICIS news]

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

CRUDE: WTI DEC $86.29/bbl, down 80 cents; BRENT DEC $107.84/bbl, down 33 cents
Crude futures lost further ground on Friday afternoon, undermined by a stronger US dollar and ahead of the release of a key US employment report later on Friday.

NAPHTHA: $956.00-958.00/tonne CFR Japan, up $5.00-6.00/tonne
Open-spec prices for the second half of December contract rose in the afternoon with regional demand outpacing supply. The naphtha crack spread widened to $149.33/tonne against Brent crude futures from $138.13/tonne on Thursday.

BENZENE: $1,330-1,345/tonne FOB Korea, stable
Benzene prices remained stable from Friday morning amid discussions within the assessed price range. Two deals for January-loading lots were fixed at $1,303/tonne FOB Korea, while a deal for a February-loading cargo was concluded at $1,275/tonne FOB Korea.

TOLUENE: $1,235-1,255/tonne FOB Korea, down $5/tonne on the low end
Discussions for November and December-loading cargoes remain scarce, though a deal was fixed for a January-loading cargo at $1,225/tonne FOB Korea. A sole bid for December-loading lots was heard at $1,235/tonne FOB Korea, while bids for January-loading cargoes were at $1,210-1,215/tonne FOB Korea in the late afternoon.

ETHYLENE: $1,310-1,350/tonne CFR NE Asia, stable
Trade was largely inactive as buyers stayed on the sidelines whereas offers were hovering at $1,350/tonne CFR NE Asia and above for end November/early December arrival cargoes.

PROPYLENE: $1,360-1,380/tonne CFR NE Asia, stable
Selling ideas for second half November/December shipment were heard at $1,380/tonne CFR NE Asia or above against buying ideas heard at $1,350-1,360/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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