NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: WTI FEB $91.33/bbl up 46 cents; BRENT FEB $111.22/bbl up 42 cents
Crude prices firmed on Friday morning, supported by hopes that talks set for Sunday will result in US lawmakers reaching an agreement on the US budget before the 1 January deadline.

NAPHTHA: $981.50-984.50/tonne CFR Japan, up $1.00-2.00/tonne
Open-spec first-half February contract rose in morning trading, tracking higher crude futures.

BENZENE: $1,480-1,490/tonne FOB Korea, up 15/tonne
Prices rose following higher bids quoted by some traders for both February and March parcels that were at $1,470-1,475/tonne FOB Korea and $1,455-1,460/tonne FOB Korea respectively.

TOLUENE: $1,345-1,352/tonne FOB Korea, stable
Bids were stable from the previous day's close at $1,340-1,345/tonne FOB Korea. Sellers remained absent in the spot market.

ETHYLENE: $1,280-1,300/tonne CFR NE Asia, stable
No CFR NE Asia trades were located but there was talk of discussions in southeast Asia at higher levels of $1,350-1,400/tonne CFR for second-half January arrival, market sources said.

PROPYLENE: $1,290-1,310/tonne CFR NE Asia, stable
Two spot cargoes changed hands at $1,290-1,300/tonne CFR China for second-half January arrival, market sources said.

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By: Staff Reporter
+44 20 8652 3214



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