EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Dec WTI $85.12/bbl, down 45 cents/bbl; Dec BRENT $108.54/bbl, down 53 cents/bbl
Crude futures lost further ground in afternoon in Asia, undermined by worries over oil demand amid weakness in the US and European economies.

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

BENZENE: $1,340-1,360/tonne FOB Korea, down $15/tonne
Prices weakened, in line with weaker crude futures. Selling indications were heard at $1,310/tonne FOB Korea for January lots, and at $1,285/tonne FOB Korea for February cargoes. Discussions for December cargoes were limited, while an inter-trade for a January-loading cargo was heard at $1,305/tonne FOB Korea.

TOLUENE: $1,255-1,265/tonne FOB Korea, steady
Discussions remained muted as players in southeast Asia and India were away for the Diwali holidays.

ETHYLENE: $1,260-1,280/tonne CFR NE Asia, down $10/tonne at the high end
Discussions were limited as buyers expect prices to decline further. Selling ideas for December cargoes were at $1,280-1,290/tonne CFR NE Asia, against buying indications capped at $1,260/tonne CFR NE Asia

PROPYLENE: $1,370-1,390/tonne CFR NE Asia, unchanged
Selling ideas hovered at $1,400-1,410/tonne CFR NE Asia, while most buying ideas were capped at $1,350-1,370/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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