EVENING SNAPSHOT - Asia Markets Summary

14 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 $97.16/bbl, up 15 cents/bbl; Apr BRENT $118.06/bbl, up 18 cents/bbl
Crude futures were trading higher in the afternoon trade on supply worries following news that Iran and the International Atomic Energy Agency (IAEA) failed to reach an agreement on their nuclear talks. Gains were tempered by eurozone concerns, as the region’s two biggest economies – France and Germany – shrank in the fourth quarter.

NAPHTHA: $1,060.50-1,062.50/tonne CFR Japan, up $2.50-3.50/tonne
Open-spec second-half March contract rose in afternoon trading, supported by rising crude futures.

BENZENE: $1,425-1,427/tonne FOB Korea, up $2-15/tonne
Two fixtures were settled for April loading at $1,415/tonne FOB Korea in the afternoon session, with one of the cargoes booked by a South Korean major. A subsequent offer for second-half March loading was made at of $1,423/tonne FOB Korea, but there were no buyers.

TOLUENE: $1,305-1,310/tonne FOB Korea, down $10/tonne
Offers for April loading were at $1,338-1,340/tonne FOB Korea, against bids at $1,330/tonne FOB Korea. Offers for first-half March parcels were at $1,310-1,315/tonne FOB Korea, which were countered by bids at $1,290/tonne FOB Korea.

ETHYLENE: $1,400-1,420/tonne CFR NE Asia, stable
Selling ideas were heard at around $1,450/tonne CFR NE Asia, with discussions expected to resume after the Lunar New Year holiday.

PROPYLENE: $1,400-1,420/tonne CFR NE Asia, steady
No CFR trades were heard while selling ideas were maintained at the low-to-mid-$1,400/tonne CFR NE Asia levels.

By: Staff Reporter
+44 20 8652 3214

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