EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Mar WTI $95.65/bbl, down 21 cents/bbl; Apr BRENT $117.80/bbl, up 14 cents/bbl
ICE Brent prices made some modest gains in the afternoon trade, while US WTI crude futures edged lower. Recent downbeat US economic data weighed on the market, but this was offset by the return of market participants from China following the Lunar New Year holiday.

NAPHTHA: $1,051.50-1,053.50/tonne CFR Japan, down $2.00-3.00/tonne
Open-spec first-half April contract extended losses in afternoon trading, after the second-half April contract changed hands at $1,031.00/tonne CFR Japan. The spread between the first-half April and second-half April contracts was done at $21.50/tonne in backwardation. The backwardation of the second-April/first-half May spread was done at $15.50/tonne.

BENZENE: $1,395-1,405/tonne, down $5/tonne at the low end
A fixture was settled at $1,395/tonne FOB Korea for April lots. Offers for May cargoes were at $1,389-1,390/tonne FOB Korea, against bids at $1,384-1,385/tonne FOB Korea.

TOLUENE: $1,300-1,310/tonne, down $10-15/tonne
Bids remained limited, with offer for second-half March loading at $1,305/tonne FOB Korea. For April, offers were at $1,325-1,335/tonne FOB Korea, against bids at $1,305/tonne FOB Korea.

ETHYLENE: $1,400-1,420/tonne CFR NE Asia, steady
Most buyers remained at the sidelines, with buying interest capped at $1,400/tonne CFR NE Asia. Selling indications were at around $1,450/tonne CFR NE Asia.

PROPYLENE: $1,400-1,420/tonne CFR NE Asia, steady
Selling indications were unchanged at as much as $1,450-1,460/tonne CFR NE Asia for any March arrival, but buying interest hovered at $1,400-1,420/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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