31 December 2012 04:00 [Source: ICIS news]
SINGAPORE (ICIS)--Here is Monday’s midday Asia oil and chemical market summary from ICIS.
CRUDE: WTI FEB $90.72/bbl down 8 cents; BRENT FEB $110.41/bbl down 21 cents
Crude prices edged lower on Monday morning amid growing concerns that US lawmakers could fail to reach an agreement ahead of the ahead of US budget deadline on 1 January.
NAPHTHA: $962.50-965.50/tonne CFR Japan, down $4.50-5.50/tonne
Open-spec first-half February contract edged lower in morning trading in tandem with global crude futures.
BENZENE: $1,470-1,485/tonne, -$10/tonne
Prices weakened in the morning, undermined by lower offers for February and March cargoes as a result of the softer energy markets.
TOLUENE: $1,352-1,367/tonne, -$3/tonne
Prices fell marginally amid a thinly traded market. Sporadic bids for February parcels were at $1,350-1,352/tonne FOB Korea, while March cargoes were at $1,350/tonne FOB Korea.
ETHYLENE: $1,280-1,300/tonne CFR NE Asia, stable
Market players are waiting until after the New Year holidays to resume spot discussions. Buying ideas were mainly unchanged at below $1,300/tonne CFR NE Asia.
PROPYLENE: $1,290-1,310/tonne CFR NE Asia, stable
The availability of competitive-priced domestic propylene dampened demand for imports. Selling interest at the low $1,300s/tonne CFR NE Asia were met with buying interest at below $1,300/tonne CFR NE Asia.
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