NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Dec WTI $85.56/bbl, up 11 cents/bbl; Jan BRENT $108.18/bbl, up 17 cents/bbl
Crude futures edged higher in morning trade, after losing ground the previous day amid concerns over the weak global economy.

NAPHTHA: $942-945/tonne CFR Japan, down $17-18/tonne
Open-spec first-half January contract fell in the morning, tracking overnight losses in US crude futures.

BENZENE: $1,330-1,350/tonne FOB Korea, stable
Prices held steady amid subdued talks for November and December-loading lots. Offers were limited, while bids for January-lifting cargoes were at $1,275-1,295/tonne FOB Korea.

TOLUENE: $1,268-1,278/tonne FOB Korea, unchanged
Discussions were limited for November and December-loading cargoes. January-loading lots were offered at $1,240/tonne FOB Korea against bids at $1,220/tonne FOB Korea.

ETHYLENE: $1,250-1,280/tonne CFR NE Asia, stable
Trades were thin because of a wide buying and selling spread. Offers for December- arrival cargoes were maintained at $1,280/tonne CFR China versus bids at $1,200-1,250/tonne CFR China. Suppliers and buyers were not in hurry to conclude deals.

PROPYLENE: $1,360-1,370/tonne CFR NE Asia, steady
Selling ideas for December cargoes were heard at around $1,380/tonne CFR NE Asia against buying ideas at $1,350-1,360/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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