EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: WTI MAR $97.57/bbl, up 6 cents/bbl; BRENT MAR $118.44/bbl, down 22 cents/bbl
ICE Brent prices softened while WTI edged a few cents higher on Wednesday afternoon, as an easing of Iran nuclear tensions and cuts in the International Energy Agency (IEA) oil demand forecast for 2013 offset any upward pressure from a weaker US dollar.

NAPHTHA: $1,056-1,058/tonne CFR Japan, up $0.50-1.50/tonne
Open-spec second-half March contract extended gains in afternoon trading on the back of rising crude futures. The first-half April contract was done at $1,035/tonne CFR Japan.

BENZENE: $1,425-1,440/tonne FOB Korea, down $5/tonne
During open market trading, a bid for second-half March loading was at $1,420/tonne FOB Korea. Offers for April loading were at $1,430/tonne FOB Korea throughout the trading day, against bids at $1,415/tonne FOB Korea.

TOLUENE: $1,315-1,320/tonne FOB Korea, down $15-25/tonne
A deal was heard done at $1,315/tonne FOB Korea for any March loading, but the buyer and seller could not be confirmed. Offers for any March cargo were at $1,320-1,330/tonne FOB Korea against bids at $1,300/tonne FOB Korea.

ETHYLENE: $1,400-1,420/tonne CFR NE Asia, stable
A South Korean producer received inquiries from some traders seeking to bring ethylene loading in early March to Europe, but it had no spot availability.

PROPYLENE: $1,400-1,420/tonne CFR NE Asia, stable
No CFR trades were heard done while selling ideas for remaining March shipments were at above $1,380/tonne FOB Korea against buying ideas at $1,350-1,360/tonne FOB Korea, market sources said.

By: Staff Reporter
+44 20 8652 3214

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