EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: WTI MAR $96.21/bbl, up 26 cents; BRENT MAR $113.21/bbl, down 7 cents
US crude futures firmed on Friday afternoon, supported by a weaker dollar and a more upbeat outlook for the global economy.  ICE Brent regained some of the losses made earlier in the day, but was still trading just below the previous session close.

NAPHTHA
: $987-989/tonne CFR Japan, down $7-8/tonne
The open-spec first-half March contract fell in afternoon trading amid a sell-down as traders booked profits.

BENZENE
: $1,400-1,409/tonne FOB Korea, up $4/tonne on the higher end
A second-half February loading was bought by a South Korean producer at $1,409/tonne FOB Korea. The intermonth spread between second-half February and March was at a slight contango.

TOLUENE: $1,290-1,300/tonne FOB Korea, down $10-13/tonne
A March lot was booked at $1,290/tonne FOB Korea, while the bulk of the bids were at $1,300/tonne FOB Korea. Second-half February was priced at parity with March.

ETHYLENE: $1,350-1,400/tonne CFR NE Asia, stable
Talk of a deal at $1,420-1,430/tonne CFR China for any February loading circulated in the market but could not be immediately confirmed.

PROPYLENE: $1,310-1,335/tonne CFR NE Asia, stable
Buying appetite has slowed ahead of the Lunar New Year holidays in early February and there remained lukewarm interest towards selling targets at $1,340-1,350/tonne CFR NE Asia.

For more pricing intelligence, please visit ICIS pricing


By: Staff Reporter
+44 20 8652 3214



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