NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Jan WTI $87.80/bbl up 60 cents/bbl; Feb BRENT $108.28/bbl up 64 cents/bbl
Crude futures prices strengthened in morning trade, supported by positive news on US budget talks.

NAPHTHA: $953.00-956.00/tonne CFR Japan, up $2.50-3.50/tonne
Open-spec first-half February contract rose in morning trading, tracking higher crude futures.

BENZENE: $1,465-1,480/tonne FOB Korea, stable
Bids for February-loading cargoes were at $,1450-1,458/tonne FOB Korea, while March-loading lots were offered at $1,460-1,463/tonne FOB Korea, meeting bids at $1,455-1,457/tonne FOB Korea.

TOLUENE: $1,385-1,400/tonne FOB Korea, flat
Discussions were limited. Most market participants were still cautious over committing to any deals following recent spike in toluene prices.

ETHYLENE: $1,250-1,300/tonne CFR NE Asia, unchanged
Selling ideas at $1,300/tonne CFR NE Asia and above for January shipments were met with muted interest from end-users in Taiwan as they were mainly covered. Talks of a cargo sold at $1,270 FOB NE Asia could not be immediately confirmed and no details were available.

PROPYLENE: $1,300-1,320/tonne CFR NE Asia, steady
Selling ideas for January cargoes remained at the low $1,300/tonne CFR NE Asia levels, against buying quotes at $1,300/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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