NOON SNAPSHOT - Asia Markets Summary

24 December 2012 04:17  [Source: ICIS news]

SINGAPORE (ICIS)--Here is Monday’s midday Asia oil and chemical market summary from ICIS.

CRUDE: WTI Feb $88.53/bbl, down 13 cents; BRENT Feb $108.73/bbl, down 24 cents
Crude futures prices edged lower in the morning, following losses made in the previous session because of concerns over the ability of US lawmakers to reach an agreement in the country’s budget talks.

NAPHTHA: $953.50-956.50/tonne CFR Japan, down $3.00-4.00/tonne
Open-spec first-half February contract dropped in the morning’s trading session, in line with global crude futures.

BENZENE: $1,455-1,470/tonne FOB Korea, stable
Prices were assessed as stable, reflecting discussions heard at the previously assessed price range. March-loading lots were offered at $1,440/tonne FOB Korea, though this price did not attract any bids.

TOLUENE: $1,350-1,360/tonne FOB Korea, stable
Prices were flat because of limited discussions heard in the morning. Bids for February and March-loading were at $1,300/tonne and $1,340/tonne FOB Korea respectively, but these prices did not lead to further discussions.

ETHYLENE: $1,280-1,300/tonne CFR NE Asia, stable
Buying ideas were unchanged at below $1,300/tonne CFR NE Asia for January-arrival cargoes, while no offers were heard because of a public holiday in Japan.

PROPYLENE: $1,285-1,310/tonne CFR NE Asia, stable
Selling ideas were steady at above $1,300/tonne CFR NE Asia, but sporadic buying interest was heard at close to $1,280/tonne CFR NE Asia.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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