NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: WTI MAR $96.61/bbl, down 3 cents; BRENT MAR $116.66/bbl, up 14 cents
Oil futures were mixed in the morning session following positive services sector data from the US.

NAPHTHA: $1,011.50-1,014.50/tonne CFR Japan, up $6.50-7.50/tonne
Open-spec second-half March contract rose in morning trading on overnight gains in global crude futures.

BENZENE: $1,398-1,410/tonne, down $3-9/tonne
March-loading cargoes were offered at $1,410-1,415/tonne FOB Korea against bids at $1,375-1,398/tonne FOB Korea. Bids for April-loading cargoes were heard at $1,365-1,395/tonne FOB Korea, meeting offers at $1,405/tonne FOB Korea. No offers were heard for May-loading cargoes.

TOLUENE: $1,300-$1,305/tonne FOB Korea, up $2-5/tonne
Trading activity was subdued in the morning session. The market continues to be in contango from March until April. March-loading cargo offers were at $1,305-1,310/tonne FOB Korea against bids at $1,300/tonne FOB Korea. April-loading cargo offers were heard at $1,325/tonne FOB Korea, while bids were at $1,308-1,310/tonne FOB Korea.

ETHYLENE: $1,380-1,410/tonne CFR NE Asia, stable
Buyers were generally unwilling to meet selling indications at above $1,400/tonne CFR NE Asia and no deals were heard.

PROPYLENE: $1,360-1,380/tonne CFR NE Asia, up $10/tonne low end
Selling indications remained at as high as above $1,400/tonne CFR NE Asia but buying ideas were generally capped at the high-$1,300s/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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