EVENING SNAPSHOT - Asia Markets Summary

07 February 2013 10:00  [Source: ICIS news]

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

CRUDE: Mar WTI $96.78/bbl, up 16 cents/bbl ; Mar BRENT $117.33/bbl, up 60 cents/bbl
Crude oil prices were higher in the afternoon session ahead of a European Central Bank meeting for further cues on the health of the eurozone economy.

NAPHTHA: $1,035.50-1,037.50/tonne CFR Japan, up $12.50-13.50/tonne
Open-spec second-half March contract rose to a near 10-month peak in afternoon trading on rising crude futures and in response to stronger cash deals. The first-half April contract traded at $1,016/tonne CFR Japan, while the first-half April/second-half spread traded at $16.50/tonne in backwardation.

BENZENE: $1,415-1,430/tonne FOB Korea, up $3-13/tonne
An offer for March cargo was at $1,430/tonne FOB Korea, against bids at $1,415/tonne FOB Korea. A deal for April loading was at $1,408/tonne FOB Korea in early afternoon.

TOLUENE: $1,320-1,325/tonne FOB Korea, up $5-10/tonne
Two deals for April loading –  at $1,332/tonne and at $1,335/tonne FOB Korea – were reported. Offers for March parcels were at $1,325/tonne FOB Korea, while offers for April lots were at $1,340-1,345/tonne FOB Korea.

ETHYLENE: $1,380-1,410/tonne CFR NE Asia, stable
Selling ideas at the low- to mid-$1,400/tonne CFR NE Asia levels were generally met with sporadic buying interest at below $1,400/tonne CFR NE Asia.

PROPYLENE: $1,400-1,420/tonne CFR NE Asia, up $20/tonne at the  low end
An inter-trade was heard done at $1,420/tonne CFR east China for first-half March arrival.


By: Staff Reporter
+44 20 8652 3214



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