NOON SNAPSHOT - Asia Markets Summary

18 February 2013 04:00  [Source: ICIS news]

SINGAPORE (ICIS)--Here is Monday’s midday Asia oil and chemical markets summary from ICIS.

CRUDE: Mar WTI $95.67/bbl, down 19 cents; Apr Brent $117.80/bbl, up 14 cents
Oil prices were mixed in early Asian trade, with NYMEX WTI crude futures extending losses seen on Friday following a report showing an unexpected decline in US manufacturing.

NAPHTHA: $1,053.50-1.056.50/tonne CFR Japan, down $17.50-18.50/tonne
Open-spec first-half April contract fell in morning trading, tracking lower settlement of crude futures on 15 February.

BENZENE: $1,400-1,405/tonne FOB Korea, stable           
An offer for April loading was quoted at $1,405/tonne FOB Korea, unchanged from last Friday's level. For May parcels, offers were reduced to $1,398/tonne FOB Korea by midday. Counter-bids were at $1,355/tonne FOB Korea and $1,350/tonne FOB Korea for April and May lots respectively, but most players deemed such bid levels as too low.    

TOLUENE: $1,310-1,325/tonne FOB Korea, stable
The market opened on a quiet note, with limited discussion levels.  

ETHYLENE: $1,400-1,420/tonne CFR NE Asia, stable
Discussions are expected to resume later in the week as market players have just returned from the Lunar New Year holiday. Selling indications were heard at around $1,450/tonne CFR NE Asia.

PROPYLENE: $1,400-1,420/tonne CFR NE Asia, stable
Selling indications were heard at $1,450-1,460/tonne CFR NE Asia for second-half March arrival against buying interest capped at close to $1,400/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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