EVENING SNAPSHOT - Asia Markets Summary

17 December 2012 10:05  [Source: ICIS news]

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

CRUDE: Jan WTI $86.70/bbl, down 3 cents/bbl; Feb BRENT $107.96/bbl, down 22 cents/bbl
Crude futures prices edged lower in the afternoon amid concerns over the lack of progress in the US budget negotiations.

NAPHTHA: $950.50-952.50/tonne CFR Japan, up $12.50-13.50/tonne
Prices rose in afternoon trading, following a cash trade. The spread between second-half February and second-half March contracts was done at $16/tonne.

BENZENE: $1,465-1,480/tonne FOB Korea, stable
Discussions were limited for prompt and January-loading cargoes. February-loading lots were offered at $1,475/tonne FOB Korea against bids at $1,460/tonne FOB Korea, while March shipment lots were offered at $1,460/tonne FOB Korea, meeting bids at $1,452/tonne FOB Korea.

TOLUENE: $1,385-1,400/tonne FOB Korea, down $5-10/tonne
Buying sentiment remained weak as toluene prices are deemed high. Second-half January-loading lots were offered at $1,385-1,390/tonne FOB  Korea, while February-loading lots were offered at $1,390/tonne FOB Korea, meeting bids at $1,365/tonne FOB Korea.

ETHYLENE: $1,250-1,300/tonne CFR NE Asia, flat
Sporadic selling ideas were heard at above $1,300/tonne CFR NE Asia against buying ideas at around $1,250/tonne CFR NE Asia or below.

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

By: Staff Reporter
+44 20 8652 3214

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