NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Dec WTI $85.23/bbl, down 34 cents/bbl; Dec BRENT $108.64/bbl, down 43 cents/bbl
Crude futures softened in Asian morning trade amid concerns over the negative impact of US and European economic weakness on oil demand growth.

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

BENZENE: $1,355-1,375/tonne FOB Korea, stable
Selling indications for Asian benzene were heard at around $1,290/tonne FOB Korea for February parcels, down $10/tonne from Monday. However, buying interest was thin. There was limited talk for December and January cargoes in the morning.

TOLUENE: $1,255-1,265/tonne FOB Korea, stable
Supply of prompt-loading molecules remained tight. Discussions were muted as players in the southeast Asia and India region were away for the Diwali holidays.

ETHYLENE: $1,260-1,290/tonne CFR NE Asia, down $20/tonne
Selling ideas for December cargoes softened to $1,290-1,300/tonne CFR NE Asia, against majority of buying indications at $1,250-1,260/tonne CFR NE Asia. Discussions were limited because of a wide buy-sell spread.

PROPYLENE: $1,370-1,390/tonne CFR NE Asia, stable
Selling ideas for December shipment hovered at $1,400/tonne CFR NE Asia or above, while most buying ideas were capped at $1,360-1,370/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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