27 December 2012 04:00 [Source: ICIS news]
SINGAPORE (ICIS)--Here is Thursday’s midday Asia oil and chemical market summary from ICIS.
CRUDE: WTI Feb $90.85/bbl, down 13 cents; BRENT Feb $110.90/bbl, down 17 cents
Crude prices fell in the morning as investors eyed talks by US lawmakers over the US budget that is aimed at avoiding a financial crisis.
NAPHTHA: $980.50-983.50/tonne CFR Japan, up $12.50-13.50/tonne
Open-spec first-half February contract jumped in morning trading tracking overnight hikes in crude futures.
BENZENE: $1,455-1,465/tonne FOB Korea, down $2/tonne
Prices slipped on the back of softer crude futures. Bids for February cargoes were at $1,450-1,452/tonne FOB Korea in the absence of sellers. An offer for a March lot emerged at $1,450/tonne FOB Korea, following a bid at $1,440/tonne FOB Korea.
TOLUENE: $1,340-1,347/tonne FOB Korea, down $5/tonne
Prices were weighed down by a lower bid, weaker energy markets and a lack of trades. A bid for March parcel was heard at $1,338/tonne FOB Korea, but there were no sellers.
ETHYLENE: $1,280-1,300/tonne CFR NE Asia, stable
Buyers were mostly covered for January and were reluctant to pay above $1,300/tonne CFR NE Asia for ethylene spot cargoes. As such, trade was hampered in the morning, market sources said.
PROPYLENE: $1,290-1,310/tonne CFR NE Asia, up $5/tonne low end
Selling ideas were unchanged at the low-$1,300s/tonne CFR NE Asia for second-half January arrival while buying ideas from some end-users were at $1,280-1,290/tonne CFR NE Asia.
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