EVENING SNAPSHOT - Asia Markets Summary

31 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 $90.90/bbl, up 10 cents; BRENT Feb $110.39/bbl, down 23 cents
Brent crude prices continued to trade below the previous session close on Monday afternoon, while US WTI futures gained a few cents. Concerns continued to build over the lack of progress in US budget talks ahead of the 1 January deadline.

NAPHTHA: $957-960/tonne CFR Japan, down $5.50/tonne
Open-spec first-half February contract extended losses in afternoon trading in tandem with crude prices.

ETHYLENE: $1,280-1,300/tonne CFR NE Asia, stable
End-users in the region are mostly covered for January arrival and were on the sidelines ahead of the New Year holiday. Concerns over the outlook for key derivatives kept buying interest largely at below $1,300/tonne CFR NE Asia. No offers were heard.

PROPYLENE: $1,290-1,310/tonne CFR NE Asia, stable
Buying ideas were capped at $1,300/tonne CFR NE Asia or below for second-half January arrival. Selling ideas were at the low-$1,300s/tonne CFR NE Asia. Discussions were subdued ahead of the New Year holiday.

By: Staff Reporter
+44 20 8652 3214

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