EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Feb WTI $95.15/bbl, down 41 cents/bbl; Mar BRENT $111.71/bbl, down 18 cents/bbl
Crude futures continued to trade below the previous session close on Monday afternoon amid concerns that the market maybe oversupplied and following the release of downbeat US consumer data. Due to a public holiday in US, NYMEX WTI will only trade electronically on Monday.

NAPHTHA: $972.50-974.50/tonne CFR Japan, up $4.50-5.50/tonne
Open-spec first-half March contract extended gains in afternoon trading, supported by strong regional demand.

BENZENE: $1,435-1,445/tonne FOB Korea, stable
Bids were limited in the afternoon session, with offers for March loading were at $1,455/tonne FOB Korea.

TOLUENE: $1,330-1,340/tonne FOB Korea, up $20/tonne
An offer for second-half February loading was at $1,350/tonne FOB Korea, but this failed to attract buyers. Bids were at $1,325/tonne FOB Korea for March loading.

ETHYLENE: $1,350-1,380/tonne CFR NE Asia, up $10/tonne at the high end
No CFR trades were heard but selling ideas stayed at above $1,400/tonne CFR NE Asia. Spot shipments for March delivery are expected from Japan, although talks have yet to kick off.

PROPYLENE: $1,310-1,330/tonne CFR NE Asia, steady
Buyers continued to resist selling ideas at $1,340/tonne CFR NE Asia and above for second-half February arrival, capping interest at the low-$1,300/tonne CFR NE Asia levels.

By: Staff Reporter
+44 20 8652 3214

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