NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Jan WTI $86.94/bbl, up 19 cents/bbl; Jan BRENT $109.99/bbl, up 16 cents/bbl
Crude futures firmed on Wednesday morning, supported by supply worries generated by Middle East tensions while upside pressure is still tempered by eurozone debt worries.

NAPHTHA: $944.50-947.50/tonne CFR Japan, down $5-6/tonne
Open-spec first-half January contract fell in the morning, following overnight losses in crude futures.

BENZENE: $1,365-1,385/tonne FOB Korea, stable
Prices were assessed as stable amid limited discussions for December and January-loading lots. Offers for January-loading cargoes were at $1,370/tonne FOB Korea against bids at $1,360/tonne FOB Korea, whereas three deals for February-loading lots were done at $1,325/tonne FOB Korea each.

TOLUENE: $1,268-1,280/tonne FOB Korea, down $2/tonne low end
Prices softened slightly at the low end, reflecting lower bids amid weak buying sentiment. A bid for January-loading lots was at $1,268/tonne FOB Korea, whereas a deal for a February-loading cargo was done at $1,260/tonne FOB Korea.

ETHYLENE: $1,200-1,250/tonne CFR NE Asia, stable
Buying notions remained capped at $1,200/tonne CFR China/Taiwan and below for December-arrival cargoes but trade was hindered by the buy-sell gap and a lack of strong buying intention.

PROPYLENE: $1,350-1,360/tonne CFR NE Asia, stable
Selling ideas for December cargoes were at $1,360/tonne CFR NE Asia or above against buying ideas at $1,330-1,350/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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