NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: WTI Dec $86.33/bbl, up 1 cent; Brent Dec $109.75/bbl, up 14 cents
Crude futures rose in the morning session amid concerns that renewed tensions in the Middle East will disrupt oil supplies.

NAPHTHA: $955.50-958.50/tonne CFR Japan, up $7.50-8.50/tonne
Open-spec second-half December contracts rose in the morning, tracking overnight gains in crude futures.

BENZENE: $1,330-1,350/tonne FOB Korea, stable
Discussions were limited in the Asian benzene market this morning. Bids were heard for February parcels at $1,270/tonne FOB Korea but received no counters. There were no price indications for December and January cargoes.

TOLUENE: $1,258-1,268/tonne FOB Korea, stable
Prices were assessed as stable in the morning amid limited discussions heard in the market.

ETHYLENE: $1,260-1,280/tonne CFR NE Asia, stable
Traders reiterated selling price targets at $1,280-1,300/tonne CFR NE Asia for December-arrival cargoes but buyers were reluctant to pay above $1,250/tonne CFR China. Trade was subdued as buyers and sellers remained in a stalemate.

PROPYLENE: $1,370-1,380/tonne CFR NE Asia, stable
Selling ideas remained at above $1,380/tonne CFR NE Asia against buying ideas at $1,350-1,370/tonne CFR NE Asia

By: Staff Reporter
+44 20 8652 3214

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