NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Feb WTI $93.61/bbl, up 33 cents/bbl; Feb BRENT $110.69/bbl, up 39 cents/bbl
Crude futures strengthened in the morning trade after US oil industry data revealed an unexpected decline in US distillate stocks last week.

NAPHTHA: $954.00-957.00/tonne CFR Japan, down $7.50-8.50/tonne
Open-spec second-half February contract fell in morning trading, triggered by overnight losses in crude futures.

BENZENE: $1,375-1,385/tonne FOB Korea, stable
Offers for March-loading spot cargoes were at $1,380/tonne FOB Korea against bids at $1,320/tonne FOB Korea.

TOLUENE:  $1,290-1,295/tonne FOB Korea, steady
Discussions were muted for February lots. Offers for March were at $1,295-1,305/tonne FOB Korea, with counter bids at $1,255-1,280/tonne FOB Korea.

ETHYLENE: $1,340-1,370/tonne CFR NE Asia, unchanged
Selling targets at around $1,400/tonne CFR NE Asia were met with buying interest capped at $1,350/tonne CFR NE Asia.

PROPYLENE: $1,320-1,340/tonne CFR NE Asia, down $10/tonne at the low end
Buying interest remained at the low-$1,300/tonne CFR NE Asia levels, against selling ideas at close to $1,350/tonne CFR NE Asia. A wide buy-sell gap hampered trade.


By: Staff Reporter
+44 20 8652 3214



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