NOON SNAPSHOT - Asia Markets Summary

04 February 2013 04:00  [Source: ICIS news]

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

CRUDE: Mar WTI $97.56/bbl, down 21 cents; Mar BRENT $116.60/bbl, down 16 cents
Crude oil futures were lower in Asia after crude rose to fourth-month highs last week on the back of the weaker US dollar, positive global economic data and tensions in the Middle East.

NAPHTHA: $1,002-1,005/tonne CFR Japan, up $4.50-5.50/tonne
Open-spec second-half March contract rose in morning trading on the back of tightening regional supply and strong end-users’ demand.

BENZENE: $1,390-1,395/tonne FOB Korea, up $5/tonne on the lower end          
A deal for April cargo was booked at $1,390/tonne FOB Korea, and subsequently, bids were at $1,385/tonne FOB Korea. Bids for March cargoes were at $1,385-1,390/tonne FOB Korea.

TOLUENE: $1,290-1,295/tonne FOB Korea, up $5/tonne on the low end
A bid was quoted for March loading at $1,285/tonne FOB Korea, while bids for April parcels were at $1,295-1,305/tonne FOB Korea. Offers were limited.

ETHYLENE: $1,380-1,410/tonne CFR NE Asia, stable
Buyers capped buying ideas at $1,380/tonne CFR NE Asia for March arrival cargoes versus offers at $1,450/tonne CFR NE Asia. No deals were heard.

PROPYLENE: $1,340-1,360/tonne CFR NE Asia, unchanged
Selling ideas were at $1,360/tonne CFR NE Asia and above, while buying ideas lagged below $1,350/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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