27 November 2012 04:00 [Source: ICIS news]
SINGAPORE (ICIS)--Here is Tuesday’s midday Asia oil and chemical markets summary.
CRUDE: Jan WTI $87.98/bbl, up 24 cents/bbl; Jan BRENT $111.05/bbl, up 13 cents/bbl
Crude futures edged higher in morning trade, supported by news that the European Union had approved the release of the next tranche of bailout funds for Greece.
NAPHTHA: $941-944/tonne CFR Japan, up $1/tonne at the high end
Open-spec first-half January contract rose at the upper end of the range in the morning, tracking higher crude futures.
BENZENE: $1,415-1,420/tonne FOB Korea, stable
Bids for January-loading lots were at $1,410/tonne FOB Korea. February-loading cargoes were offered at $1,380-1,385/tonne FOB Korea against bids at $1,365/tonne FOB Korea.
TOLUENE: $1,313-1,325/tonne FOB Korea, unchanged
Market was quiet as most market participants await clearer price indications.
ETHYLENE: $1,160-1,180/tonne CFR NE Asia, steady
Discussions were largely subdued amid the wide buy-sell spread. Buyers capped buying notions at $1,150/tonne CFR China/Taiwan for December arrival cargoes but there were few formal offers.
PROPYLENE: $1,340-1,350/tonne CFR NE Asia, stable
Sporadic selling ideas were heard at around $1,350/tonne CFR NE Asia or above, against buying ideas remained at the low $1,300s/tonne CFR NE Asia.
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