NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Mar WTI $97.88/bbl, down 6 cents/bbl; Mar BRENT $115.04/bbl, up 14 cents/bbl
Crude prices were rangebound, following gains made in the previous session that which pushed ICE Brent crude to three-month highs. Prices were buoyed by news that the US Federal Reserve intends to continue monetary stimulus, and positive news from the eurozone.

NAPHTHA: $1,001.50-1,004.50/tonne CFR Japan, up $4.50-5.50/tonne
Open-spec first-half March contract rose in morning trading on the back of rising crude futures.

BENZENE: $1,385-1,395/tonne FOB Korea, down $15-20/tonne
Market opened softer, weighed down by lack of buying interest from the key US market. Offers for second-half loading were at $1,395-1,400/tonne FOB Korea, with a bid heard at $1,370/tonne FOB Korea.

TOLUENE: $1,303-1,310/tonne FOB Korea, stable
An offer for March loading was at $1,320/tonne FOB Korea, but there were no bidders. A bid for April lot was at $1,300/tonne FOB Korea in absence of sellers.

ETHYLENE: $1,350-1,400/tonne CFR NE Asia, unchanged
Two cargoes were sold at $1,325-1,335/tonne FOB Japan for any March lifting, while no CFR trades were heard.

PROPYLENE: $1,320-1,350/tonne CFR NE Asia, flat
Selling indications for late February/March arrival were maintained at the mid-to-high-$1,300/tonne CFR NE Asia levels against buying ideas at the low-$1,300/tonne CFR NE Asia levels.


By: Staff Reporter
+44 20 8652 3214



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