28 November 2012 04:00 [Source: ICIS news]
SINGAPORE (ICIS)--Here is Wednesday’s midday Asia oil and chemical markets summary.
CRUDE: Jan WTI $87.16/bbl, down 2 cents/bbl; Jan BRENT $109.90/bbl, up 3 cents/bbl
Crude futures were rangebound in the morning trade after losing ground the previous day amid worries over the economic outlook in the US and uncertainty over the nation’s budget.
NAPHTHA: $938.50-941.50/tonne CFR Japan, down $8.00-9.00/tonne
Open-spec first-half January contract edged lower in the morning trade on the back of rising supply.
BENZENE: $1,430-1,440/tonne FOB Korea, stable
Spread bids for January and February-loading cargoes were at $40-45/tonne FOB Korea.
TOLUENE: $1,310-1,325/tonne FOB Korea, steady
The market was quiet with only a spread bid of $22/tonne FOB Korea heard for January and February-loading cargoes.
ETHYLENE: $1,160-1,180/tonne CFR NE Asia, unchanged
Buying ideas were mentioned at $1,150-1,170/tonne CFR NE Asia for December-arrival cargoes but firm offers were limited.
PROPYLENE: $1,320-1,340/tonne CFR NE Asia, down by $10-20/tonne
Sporadic selling ideas were heard at around $1,350/tonne CFR NE Asia or above, against buying ideas at the low $1,300s/tonne CFR NE Asia.
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