EVENING SNAPSHOT - Asia Markets Summary

26 December 2012 10:00  [Source: ICIS news]

SINGAPORE (ICIS)--Here is Wednesday’s end-of-day Asia oil and chemical market summary from ICIS.

CRUDE: WTI FEB $89.12/bbl down 51 cents; BRENT FEB $109.50/bbl up 70 cents
Crude futures prices strengthened on Wednesday, supported by expectations that US lawmakers will reach an agreement on the US budget before the 1 January deadline.

NAPHTHA: $968.00-970.00/tonne CFR Japan, up $6.50-7.50/tonne
Open-spec first-half February contract extended crude-driven gains in afternoon trading. Vitol sold a cargo to Cargill at $962/tonne CFR Japan for delivery in the second half of February.

BENZENE: $1,457-1,467/tonne FOB Korea, up $7-12/tonne
Prices were assessed as higher, reflecting firmer bids and offers as market activity picked up in the afternoon. A deal for a March-loading cargo was fixed at $1,440/tonne FOB Korea, while February-loading lots were offered at $1,460-1,480/tonne FOB Korea, against bids at $1,440-1,450/tonne FOB Korea.

TOLUENE: $1,345-1,352/tonne FOB Korea, down $3/tonne on the low end
Prices were assessed stable-to-weak, reflecting lower offers for March-loading cargoes at $1,352/tonne FOB Korea. Meanwhile, the intermonth spread for January, February and March-loading cargoes was said to be at parity.

ETHYLENE: $1,280-1,300/tonne CFR NE Asia, stable
No CFR NE Asia deals were heard while buying ideas were unchanged at below $1,300/tonne CFR NE Asia.

PROPYLENE: $1,285-1,310/tonne CFR NE Asia, steady
Selling ideas were heard at the low $1,300s/tonne CFR NE Asia against buying interest at below $1,300/tonne CFR NE Asia.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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