EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Mar WTI $95.98/bbl, up 15 cents/bbl; Mar BRENT $117.65/bbl, up 41 cents/bbl
Crude oil futures were higher in the afternoon session, bolstered by positive trade data from China and supply worries arising from tensions in the Middle East.

NAPHTHA: $1,048.75-1,050.75/tonne CFR Japan, up $13.75-14.75/tonne
Open-spec second-half March contract rose in afternoon trading, buoyed by a regional supply squeeze and firm demand. The first-half April contract changed hands between Mabanaft and Itochu at $1,027.75/tonne CFR Japan.

BENZENE: $1,430-1,445/tonne FOB Korea, up $5-15/tonne
A fixture was settled during open market trading for the intermonth spread between March and April at a backwardation of $12/tonne. Offers for March cargoes were at $1,444/tonne FOB Korea, against bids at $1,432/tonne FOB Korea.

TOLUENE: $1,325-1,330/tonne FOB Korea, up $10/tonne at the low end
Market activity dwindled in the afternoon session. Bids for March loading were at $1,330/tonne, and at $1,325/tonne FOB Korea for May loading, but there were no sellers.

ETHYLENE: $1,400-1,420/tonne CFR NE Asia, stable
Selling indicationswere unchanged at the low- to mid-$1,400/tonne CFR NE Asia levels, but buying interest remained capped at around $1,400/tonne CFR NE Asia.

PROPYLENE: $1,400-1,420/tonne CFR NE Asia, steady
Selling ideas at $1,430-1,440/tonne CFR NE Asia failed to attract interest as buying interest was capped at around $1,400/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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