NOON SNAPSHOT - Asia Markets Summary

12 December 2012 04:00  [Source: ICIS news]

SINGAPORE (ICIS)--Here is Wednesday’s midday Asia oil and chemical markets summary.

CRUDE: Jan WTI $85.94/bbl, up 15 cents/bbl; Jan BRENT $108.34/bbl, up 33 cents/bbl
Crude futures prices firmed in the morning trade, buoyed by a cut in OPEC oil output, primarily from Saudi Arabia.

NAPHTHA: $942-945/tonne CFR Japan, up $1-2/tonne
Open-spec second-half January contract rose in the morning in tandem with crude futures.

BENZENE: $1,450-1,470/tonne FOB Korea, stable
Discussions were limited for December- and January-loading lots. Bids for February were at $1,425/tonne, while those for March-loading cargoes were at $1,415/tonne FOB Korea.

TOLUENE: $1,400-1,410/tonne FOB Korea, up $20/tonne
January-loading cargoes were offered at $1,420/tonne FOB Korea. Offers for February-loading lots at $1,390/tonne FOB Korea met bids at $1,375/tonne FOB Korea. March-loading cargoes were offered at $1,350/tonne FOB Korea.

ETHYLENE: $1,200-1,250/tonne CFR NE Asia, stable
Sporadic selling ideas were heard at above $1,250/tonne CFR NE Asia against buying ideas at $1,200/tonne CFR NE Asia or below.

PROPYLENE: $1,305-1,320/tonne CFR NE Asia, unchanged
Selling ideas for January cargoes were heard at the low $1,300s/tonne CFR NE Asia against buying ideas at $1,300/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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