24 December 2012 10:00 [Source: ICIS news]
SINGAPORE (ICIS)--Here is Monday’s end-of-day Asia oil and chemical market summary from ICIS.
CRUDE: WTI FEB $88.54/bbl, down 12 cents; BRENT FEB $108.78/bbl down 19 cents
Crude futures prices continued to trade below the previous session close on Monday afternoon on growing concerns over the ability of US lawmakers to reach agreement in US budget talks.
NAPHTHA: $956.50-958.50/tonne CFR Japan, up $2-3/tonne
Open-spec first-half February contract rebounded in afternoon trade on renewed concerns over tightening regional supply.
BENZENE: $1,445-1,460/tonne FOB Korea, down $10/tonne
Prices reflected lower bids and offers amid a quiet market. Offers for February-loading lots were at $1,452/tonne FOB Korea, meeting bids at $1,440-1,445/tonne FOB Korea.
TOLUENE: $1,345-1,355/tonne FOB Korea, down $5/tonne
Prices fell amid lower bids and offers amid a thinly traded market. Offers for March-loading lots were at $1,355/tonne FOB Korea, against bids at $1,340/tonne FOB Korea.
ETHYLENE: $1,280-1,300/tonne CFR NE Asia, stable
Selling ideas at above $1,300/tonne CFR NE Asia were met with strong buyer resistance because of concerns over the outlook for key derivatives such as polyethylene (PE). No deals were heard.
PROPYLENE: $1,285-1,310/tonne CFR NE Asia, unchanged
Buying ideas were unchanged at around $1,280/tonne CFR NE Asia while second-half January arrival spot cargoes were available for sale at above $1,300/tonne CFR NE Asia, market sources said.
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