EVENING SNAPSHOT - Asia Markets Summary

29 November 2012 10:00  [Source: ICIS news]

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

CRUDE: Jan WTI $87.33/bbl, up 84 cents/bbl; Jan BRENT $110.48/bbl, up 97 cents/bbl
Crude futures strengthened in afternoon trade amid heightened Middle East tensions and a softer US dollar.

NAPHTHA: $946-948/tonne CFR Japan, up $4-5/tonne
Open-spec first-half January contract rose in afternoon trading, tracking higher crude futures.

BENZENE: $1,423-1,440/tonne FOB Korea, down $10-12/tonne
Lower-priced deals were concluded for January-loading cargoes. For January-loading lots, a deal was done at $1,430/tonne FOB Korea and another at $1,423/tonne FOB Korea. The bid-offer range for February-loading lots was at $1,375-1,395/tonne FOB Korea.

TOLUENE: $1,310-1,325/tonne FOB Korea, unchanged
Discussions were focused on forward-month cargoes, with March-loading lots offered at $1,290/tonne FOB Korea against bids at $1,270/tonne FOB Korea.

ETHYLENE: $1,160-1,180/tonne CFR NE Asia, stable
Buying interest was largely subdued following recent deals, with bids capped at $1,150-1,170/tonne CFR China for December-arrival cargoes. Key buyers are expected to return to the market next month for January-arrival cargoes.

PROPYLENE: $1,320-1,340/tonne CFR NE Asia, steady
Selling ideas were heard at $1,340-1,360/tonne CFR NE Asia, while buying ideas remained at $1,300-1,320/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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