07 January 2013 04:00 [Source: ICIS news]
SINGAPORE (ICIS)--Here is Monday’s midday Asia oil and chemical markets summary.
CRUDE: Feb WTI $92.93/bbl, down 16 cents/bbl; Feb BRENT $111.34/bbl, up 3 cents/bbl
US crude futures were trading a few cents lower on Monday morning amid a stronger US dollar. Some support was generated by US economic data for December indicating increased activity in the service sector despite unemployment rates remaining at 7.8%.
NAPHTHA: $957.50-960.50/tonne CFR Japan, down $1.50-2.50/tonne
Open-spec second-half February contract eased in morning trading, tracking lower Brent crude settlement on Friday.
BENZENE: $1,475-1,485/tonne FOB Korea, down $5/tonne
Bid-offer levels were lower in the morning session. A bid for March parcels was quoted at $1,455/tonne FOB Korea, but there was no seller. A separate offer for March cargoes at $1,460/tonne FOB Korea was withdrawn by noon. The market remained in backwardation of $10/tonne for first-half February and second-half February, and for second-half February and first-half March.
TOLUENE: $1,360-1,370/tonne FOB Korea, stable
Discussions were sporadic, with an offer heard for January shipments at $1,370/tonne FOB Korea, while bids were countered at $1,355/tonne FOB Korea.
ETHYLENE: $1,290-1,310/tonne CFR NE Asia, steady
No offers were heard as key market players in Japan and China had just returned from their New Year holidays. Buying interest was heard capped at around $1,300/tonne CFR NE Asia.
PROPYLENE: $1,290-1,310/tonne CFR NE Asia, unchanged
Some buyers seeking February-arrival cargoes capped their buying interest at close to $1,300/tonne CFR NE Asia and were awaiting offers from sellers.
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