NOON SNAPSHOT - Asia Markets Summary

14 January 2013 04:00  [Source: ICIS news]

SINGAPORE (ICIS)--Here is Monday’s midday Asia oil and chemical markets summary.

CRUDE: Feb WTI $94.16/bbl, up 60 cents/bbl; Feb BRENT $111.04/bbl, up 40 cents/bbl
Crude futures strengthened in the morning trade, supported by a weaker US dollar and the start-up of the expanded Seaway Pipeline, which will alleviate the buil-dup of crude stocks in the US Midwest.

NAPHTHA: $952.00-955.00/tonne CFR Japan, down $7.25-8.25/tonne
Open-spec second-half February contract fell in morning trading after Brent crude futures settled down $1.25/bbl on 11 January.

BENZENE: $1,365-1,375/tonne FOB Korea, stable
Offers for second-half February parcels were at $1,375/tonne FOB Korea, but there were no takers. March cargoes were offered at $1,355-1,360/tonne FOB Korea, against bids at $1,340/tonne FOB Korea.                       

TOLUENE: $1,300-1,310/tonne FOB Korea, flat
Offers for second-half February cargoes were unchanged at $1,310/tonne FOB Korea. Offers for March shipments were at $1,314/tonne FOB Korea, against bids at $1,290-1,300/tonne FOB Korea.

ETHYLENE: $1,340-1,360/tonne CFR NE Asia, unchanged
Buying notions in China were capped below $1,350/tonne CFR NE Asia versus offers at above $1,380/tonne CFR NE Asia. Trading was subdued, with key traders in Japan out for a public holiday.

PROPYLENE: $1,330-1,340/tonne CFR NE Asia, steady
Buying ideas were heard at around $1,320-1,330/tonne CFR China against few firm offers heard in the morning.

By: Staff Reporter
+44 20 8652 3214

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