EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Dec WTI $85.95/bbl, down 12 cents/bbl; Dec BRENT $109.07/bbl, down 33 cents/bbl
Crude futures continued to trade below the previous session’s close in Asian afternoon trade amid worries over the US budget and the eurozone debt issues. 

NAPHTHA: $958.00-960.00/tonne CFR Japan, up $6.00-7.00/tonne
Open-spec second-half December contract rose in the afternoon, helped by firmer downstream polyethylene margins. The naphtha crack spread widened to $141.50/tonne from $134.90/tonne on 9 November.

BENZENE: $1,355-1,375/tonne FOB Korea, down $15-20/tonne
Buy-sell indications for February cargoes were at $1,290-1,300/tonne FOB Korea. Buying indications for January lots were also lower at $1,310-1,320/tonne FOB Korea, while selling indications were lower. No deals were heard concluded.

TOLUENE: $1,255-1,265/tonne FOB Korea, up $9-10/tonne
Discussions for December-loading cargoes were subdued. Discussions for January were at $1,220-$1,235/tonne FOB Korea, while the intermonth spread for December/ January was placed at $35/tonne.  

ETHYLENE: $1,280-1,310/tonne CFR NE Asia, down $10-20/tonne
Selling ideas for December cargoes were around $1,310-1,320/tonne CFR NE Asia, against buying indications, which were capped at $1,280/tonne CFR NE Asia.

PROPYLENE: $1,370-1,390/tonne CFR NE Asia, up $10/tonne at the high end
Selling ideas for December shipment hovered at $1,400/tonne CFR NE Asia or above against buying ideas at $1,350-1,370/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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