EVENING SNAPSHOT - Asia Markets Summary

26 November 2012 10:16  [Source: ICIS news]

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

CRUDE: Jan WTI $87.77/bbl, down 51 cents/bbl; Jan BRENT $110.92/bbl, down 46 cents/bbl
Crude futures declined in afternoon trade amid a firmer US dollar and ongoing eurozone worries ahead of a European Union meeting on Monday that will tackle the release of the next tranche of bailout funds for Greece.

NAPHTHA: $941-943/tonne CFR Japan, down $1/tonne at the high end
Open-spec first-half January contract fell at the upper end of the range in the afternoon, tracking lower crude futures.

BENZENE: $1,415-1,420/tonne FOB Korea, up $5/tonne at the low end
A January-loading cargo was sold at $1,415/tonne FOB Korea. Bids for January-loading were at $1,405-1,407/tonne FOB Korea, while those for February-loading lots were quoted at $1,360-1,365/tonne FOB Korea. An offer for March-loading lots was at $1,365/tonne FOB Korea.

TOLUENE: $1,313-1,325/tonne FOB Korea, down $2/tonne at the low end, up $5/tonne at the high end
Higher offers were quoted amid weak buying sentiment, as most end-users await clearer price directions. A deal for a January-loading lot was fixed at $1,313/tonne FOB Korea. The bid-offer range for February-loading cargoes was $1,282-1,290/tonne FOB Korea.

ETHYLENE: $1,160-1,180/tonne CFR NE Asia, stable
Buying notions were mentioned at $1,150/tonne CFR China/Taiwan and below for December arrival cargoes, but firm offers were few.

PROPYLENE: $1,340-1,350/tonne CFR NE Asia, steady
Sporadic selling ideas were heard at around $1,350/tonne CFR NE Asia or above, while buying ideas remained at below $1,350/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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