EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: WTI Jan $87.79/bb, down 28 cents; BRENT Jan $110.40/bbl, down 36 cents
Crude futures continued on Friday afternoon to trade at below the previous session’s close, because of concerns over the ability of President Obama and the Republican congressional leaders to reach an agreement over the US budget.

NAPHTHA: $950.50-952.50/tonne CFR Japan, down $1.50-2.50/tonne
Open-spec first-half January contract retreated in the afternoon, tracking lower crude futures.

BENZENE: $1,426-1,440/tonne FOB Korea, stable
Discussions for prompt and January-loading cargoes were scarce, while bids for February and March-loading lots were at $1,360/tonne FOB Korea and $1,347/tonne FOB Korea respectively.

TOLUENE: $1,310-1,325/tonne FOB Korea, stable
Prices were assessed stable on the back of discussions at within the assessed price range. The bid-offer range for February-loading lots was $1,280-1,305/tonne FOB Korea.

ETHYLENE: $1,150-1,180/tonne CFR NE Asia, stable
Buying ideas for Middle East-origin January-arrival cargoes were mentioned at around $1,170/tonne CFR China versus selling indications at $1,180-1,200/tonne CFR China.

PROPYLENE: $1,300-1,330/tonne CFR NE Asia, down by $20/tonne at low end
Selling ideas were heard at around $1,330/tonne CFR NE Asia, while buying ideas remained at $1,300-1,320/tonne CFR NE Asia. Two deals for second-half December arrival cargoes were done at $1,300/tonne CFR China.

By: Staff Reporter
+44 20 8652 3214

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