NOON SNAPSHOT - Asia Markets Summary

12 November 2012 04:00  [Source: ICIS news]

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

CRUDE: Dec WTI $86.02/bbl, down 5 cents/bbl; Dec BRENT $109.01/bbl, down 39 cents/bbl
Crude futures were trading lower in the morning, after gaining ground in the previous session. Positive economic news from China was offset by the US budget and eurozone worries. 

NAPHTHA: $951-954/tonne CFR Japan, up $14-15/tonne
Open-spec second-half December contract rose in the morning, after Brent crude futures settled higher on 9 November.

BENZENE: $1,375-1,390/tonne FOB Korea, stable
Discussions were limited for December and January cargoes in the morning. Buying indications were heard for February cargoes at $1,280-1,300/tonne FOB Korea against selling indications at $1,310/tonne FOB Korea.

TOLUENE: $1,245-1,256/tonne FOB Korea, stable
Prices on a FOB Korea basis were holding firm on the back of stable supply and demand. An offer for February-loading cargo was heard at $1,220/tonne FOB Korea.

ETHYLENE: $1,290-1,330/tonne CFR NE Asia, stable
Trade activity was subdued during the morning, with majority of bids capped at $1,290/tonne CFR NE Asia. Majority of market participants remained at the sidelines, awaiting a clearer price direction.

PROPYLENE: $1,370-1,380/tonne CFR NE Asia, stable
Selling ideas for December cargoes hovered at $1,390-1,400/tonne CFR NE Asia against buying ideas at $1,360-1,370/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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