EVENING SNAPSHOT - Asia Markets Summary

03 January 2013 10:00  [Source: ICIS news]

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

CRUDE: WTI Feb $92.63/bbl, down 49 cents; BRENT Feb $111.88/bbl, down 59 cents/bbl
Crude futures continued to trade below the previous session close on Thursday afternoon, undermined by a firmer US dollar and concerns of further US budget negotiations in the coming months.

NAPHTHA: $969-971/tonne CFR Japan, down $4-5/tonne
Open-spec second-half February contract fell in afternoon trading, tracking lower crude futures. The first-half March contract was done at $962/tonne CFR Japan.

BENZENE: $1,475-1,485/tonne FOB Korea, down $3/tonne
Prices fell further in the afternoon session, weighed down by lower offers and bids. A regional trader offered second-half January parcels at $1,495/tonne FOB Korea but its offer was reduced to $1,480/tonne FOB Korea by the end of the business day.

TOLUENE: $1,360-1,375/tonne FOB Korea, stable
Prices closed flat from the previous day's trade, on the back of range-bound bids and offers. An offer for second-half January parcel emerged in the afternoon session at $1,375/tonne FOB Korea, but there were no takers.

ETHYLENE: $1,290-1,310/tonne CFR NE Asia, stable
Buying ideas were unchanged at the high-$1,200s/tonne to $1,300/tonne CFR NE Asia while selling ideas were at around $1,350/tonne CFR NE Asia.

PROPYLENE: $1,290-1,310/tonne CFR NE Asia, stable
Selling ideas were maintained at the low-$1,300s/tonne CFR NE Asia while sporadic buying interest was at $1,290-1,300/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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