NOON SNAPSHOT - Asia Markets Summary

19 November 2012 04:10  [Source: ICIS news]

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

CRUDE: Jan WTI $87.57/bbl, up 65 cents/bbl; Jan BRENT $109.64/bbl, up 69 cents/bbl
Crude futures rose in morning trade in Asia amid supply concerns generated by Middle East tensions after further Israeli air strikes on Gaza.

NAPHTHA: $950-953/tonne CFR Japan, up $9-10/tonne
Open-spec first-half January contract rose in the morning, tracking higher global crude futures.

BENZENE: $1,335-1,355/tonne FOB Korea, stable
The market was quiet with limited discussions for December-loading cargoes. Bids for January-loading lots were at $1,320-1,333/tonne FOB Korea, while offers for February shipment cargoes were at $1,330/tonne FOB Korea.

TOLUENE: $1,268-1,278/tonne FOB Korea, unchanged
A bid for first-half January-loading lots for import cargoes to China was at $1,270/tonne CFR East China.

ETHYLENE: $1,200-1,250/tonne CFR NE Asia, down $30-50/tonne
A deal for a 3,500-tonne cargo was confirmed done at $1,200/tonne CFR China for arrival in the first half of December. Most other suppliers were reluctant to sell below $1,250/tonne CFR NE Asia.

PROPYLENE: $1,350-1,360/tonne CFR NE Asia, flat
Selling ideas for December cargoes were at $1,370/tonne CFR NE Asia or above, against buying ideas at $1,350/tonne CFR NE Asia or below.

By: Staff Reporter
+44 20 8652 3214

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