NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: WTI Jan $87.99/bbl, down 29 cents; BRENT Jan $111.12/bbl, down 26 cents
Crude futures softened on Monday morning amid a firmer US dollar. Attention was focussed on civil unrest in Egypt and hopes that Greece can reach an agreement with its creditors which will allow the release of further bailout funds.

NAPHTHA: $941-944/tonne CFR Japan, up $5-7/tonne
Open-spec first-half January contract rose in the morning, tracking crude gains on Friday.

BENZENE: $1,410-1,420/tonne FOB Korea, stable
Discussions were limited as high benzene prices weighed on end-users’ buying sentiment, while sellers were waiting for clearer price directions before offering cargoes.

TOLUENE: $1,315-1,320/tonne FOB Korea, stable
Discussions were scarce in a quiet market. Talks for import cargoes on a CFR China basis were also limited.

ETHYLENE: $1,160-1,180/tonne CFR NE Asia, stable
A deal was heard concluded late on 23 November at $1,150/tonne CFR China for a 2,300 tonne cargo for December arrival, but it could not be confirmed. Firm offers and discussions were otherwise limited on Monday.

PROPYLENE: $1,340-1,350/tonne CFR NE Asia, stable
Buying ideas remained at below $1,350/tonne CFR NE Asia, and no firm offers were heard in the morning.

By: Staff Reporter
+44 20 8652 3214

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