NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Mar WTI $96.78/bbl, up 16 cents; Mar BRENT $116.95/bbl, up 22 cents
NYMEX WTI crude futures reversed losses made in the previous session ahead of a European Central Bank meeting later on Thursday.

NAPHTHA: $1,022-1,025/tonne CFR Japan, up $3-4/tonne
Open-spec second-half March contract edged higher in morning trading on tight supply and strong regional demand.

BENZENE: $1,412-1,417/tonne FOB Korea, up $7/tonne
Bids for March loading were at $1,405-1,412/tonne FOB Korea, in the absence of sellers. For April lots, bids were at $1,395-1,400/tonne FOB Korea.       

TOLUENE: $1,310-1,320/tonne, up $5-10/tonne
An April fixture was closed at $1,330/tonne FOB Korea by a global major to a trader. Another deal was reported for April loading at $1,325/tonne FOB Korea, but this could not be confirmed. April is priced at a contango of $10-15/tonne compared with March.        

ETHYLENE: $1,380-1,410/tonne CFR NE Asia, stable
No deals were heard, while buying interest was largely capped at around $1,400 or lower against selling ideas at least in the low $1,400/tonne CFR NE Asia levels.

PROPYLENE: $1,380-1,420/tonne CFR NE Asia, steady
Talk of a deal at $1,400/tonne CFR Taiwan for March arrival was heard but there were no details. Buying ideas from some end-users remained capped at $1,370-1,380/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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