EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Mar WTI $96.84/bbl, down 47 cents/bbl; Apr BRENT $117.48/bbl, down 52 cents/bbl
Crude futures fell in the afternoon session, with US crude giving up earlier gains, on concerns over demand as recent eurozone and Japan data reflect continued weakness in the global economy.

NAPHTHA: $1,072-1,074/tonne CFR Japan, up $12.50-13.50/tonne
Open-spec second-half March contract rose in afternoon trading because of strong petrochemical demand and tight supply.

BENZENE: $1,400-1,405/tonne FOB Korea, up $8/tonne              
Four deals at $1,400/tonne FOB Korea were closed for April loading, while another April cargo was booked prior to that at $1,397/tonne FOB Korea. A May parcel was booked at $1,395/tonne FOB Korea.

TOLUENE: $1,310-1,325/tonne FOB Korea, up $5-10/tonne         
An April cargo was booked at $1,325/tonne FOB Korea. Offers for March loading were at $1,325/tonne FOB Korea against bids at $1,310/tonne FOB Korea.

ETHYLENE: $1,400-1,420/tonne CFR NE Asia, stable
Selling ideas were unchanged at around $1,450/tonne CFR NE Asia for March arrival, underpinned by high feedstock naphtha costs and limited spot supply from the region and the Middle East. No deals were heard done.

PROPYLENE: $1,400-1,420/tonne CFR NE Asia, stable
No CFR NE Asia trades were heard done, but two regional spot cargoes changed hands at $1,390/tonne FOB Korea for loading from the end of March to early April, market sources said.

By: Staff Reporter
+44 20 8652 3214

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