06 December 2012 04:00 [Source: ICIS news]
SINGAPORE (ICIS)--Here is Thursday’s midday Asia oil and chemical market summary from ICIS.
CRUDE: WTI JAN $87.80/bbl, down 8 cents; BRENT JAN $108.83/bbl, up 2 cents
Crude futures prices were rangebound on Thursday morning after losing ground the previous day following the release of downbeat economic data and a large build in US gasoline stocks.
NAPHTHA: $935.00-937.00/tonne CFR Japan, down $8.50/tonne
Open-spec second-half January contract fell in the morning on overnight losses in crude futures.
BENZENE: $1,480-1,495/tonne FOB Korea, stable
Asia benzene prices were assessed as stable over last evening amid thin discussions for January-loading cargoes in the morning session. The intermonth spread between second-half December and January was notionally assessed at a $0-5/tonne backwardation, according to market participants.
TOLUENE: $1,330-1,355/tonne FOB Korea, stable
Asia benzene prices were assessed as stable in the morning following limited discussions for January and February-loading cargoes. A sole bid was heard for a February lot at $1,320/tonne FOB Korea.The intermonth spread for second-half December and first-half January was assessed at a $5/tonne backwardation, according to market participants.
ETHYLENE: $1,150-1,200/tonne CFR NE Asia, up $10/tonne on low end
Buying notions firmed to $1,150/tonne CFR China for end-December/January arrival regional cargoes versus sporadic offers at $1,170/tonne CFR China. Talk of a deal at $1,250/tonne CFR China for a first half January arrival cargo could not be confirmed.
PROPYLENE: $1,300-1,330/tonne CFR NE Asia, stable
Selling ideas were heard at $1,340-1,350/tonne CFR NE Asia against buying ideas at $1,300-1,320/tonne CFR NE Asia.
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