EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Mar WTI $95.33/bbl, down 53 cents/bbl; Apr BRENT $117.24/bbl, down 14 cents/bbl
Crude prices were trading below the previous session close on Tuesday afternoon ahead of the release of US economic and oil inventory data as well as an easing of tensions between the West and Iran.

NAPHTHA: $1,034-1,036/tonne CFR Japan, up $10-11/tonne
Open-spec first-half April contract rose in afternoon trading, rebounding from earlier crude-driven losses as the market remains tight on supply.

BENZENE: $1,395-1,400/tonne FOB Korea, down $5/tonne at the high end
A deal was settled at $1,395/tonne FOB Korea for April loading. Another deal for the intermonth spread between April and May was closed at a backwardation of $7/tonne.

TOLUENE: $1,293-1,295/tonne FOB Korea, down $7-15/tonne
Two deals were closed towards the end of the afternoon session, with the first done at $1,305/tonne FOB Korea for April loading and the other at $1,308/tonne FOB Korea for May parcel.

ETHYLENE: $1,400-1,420/tonne CFR NE Asia, stable
Buyers remained reluctant to pay $1,450/tonne CFR NE Asia for ethylene and capped their interest at around $1,400/tonne CFR NE Asia, market sources said.

PROPYLENE: $1,400-1,430/tonne CFR NE Asia, up $10/tonne at high end
An inter-trade was heard done at $1,430/tonne CFR NE Asia for mid-March delivery to China while selling ideas at around $1,450/tonne CFR NE Asia failed to attract interest.

By: Staff Reporter
+44 20 8652 3214

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