29 November 2012 04:00 [Source: ICIS news]
SINGAPORE (ICIS)--Here is Thursday’s midday Asia oil and chemical markets summary.
CRUDE: Jan WTI $86.75/bbl, up 26 cents/bbl; Jan BRENT $109.74/bbl, up 23 cents/bbl
Crude futures firmed in morning trade amid supply worries generated by heightened Middle East tensions. Upside pressure was tempered by concerns over the ability of lawmakers to reach an agreement on the US budget.
NAPHTHA: $941.00-944.00/tonne CFR Japan, down $0.50/tonne at the low end; up $0.50/tonne at the high end
The trading range widened for open-spec first-half January contract in morning trading. The market is facing ample deep-sea supply.
BENZENE: $1,435-1,450/tonne FOB Korea, unchanged
Discussions were limited for December- and January-loading lots. February-loading cargoes were offered at $1,405/tonne FOB Korea against bids at $1,385/tonne FOB Korea.
TOLUENE: $1,310-1,325/tonne FOB Korea, stable
February-loading cargoes were offered at $1,305/tonne FOB Korea, meeting bids at $1,280/tonne FOB Korea. Discussions for December and January-loading cargoes were scarce.
ETHYLENE: $1,160-1,180/tonne CFR NE Asia, steady
Buyers reiterated bids at $1,150-1,170/tonne CFR China versus selling indications for Middle East cargoes at $1,180-1,200/tonne CFR China for second half December arrival. No deals were heard.
PROPYLENE: $1,320-1,340/tonne CFR NE Asia, flat
Selling ideas were heard at around $1,340-1,350/tonne CFR NE Asia against buying ideas at $1,300-1,320/tonne CFR NE Asia.
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