NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Mar WTI $96.70/bbl, up 4 cents; Apr BRENT $117.32/bbl, down 20 cents
Oil prices were mixed in early Asian trading, with NYMEX WTI crude futures edging higher ahead of its contract expiration later on Wednesday.

NAPHTHA: $1,035.50-1,038.50/tonne CFR Japan, up $1.50-2.50/tonne
Open-spec first-half April contract rose in morning trading on the back of overnight crude gains.

BENZENE: $1,405-1,410/tonne FOB Korea, up $10/tonne
Offers for April parcels were at $1,405-1,410/tonne FOB Korea, which were countered by bids at $1,390-1,400/tonne FOB Korea. For May parcels, offers were at $1,400/tonne FOB Korea, against bids at $1,395/tonne FOB Korea.   

TOLUENE: $1,293-1,295/tonne FOB Korea, stable
Bids for April loading were at $1,305/tonne FOB Korea, while for May cargoes, bids were at $1,310/tonne FOB Korea. Sellers were largely absent.

ETHYLENE: $1,400-1,420/tonne CFR NE Asia, steady
Discussions are underway for a 3,000-tonne regional cargo for arrival in the middle to the second half of March. Selling indications at around $1,450/tonne CFR NE Asia were generally met with buying interest capped at the low-$1,400/tonne CFR NE Asia levels.

PROPYLENE: $1,410-1,430/tonne CFR NE Asia, up $10/tonne at the low end
Two regional cargoes were heard changing hands at $1,415-1,420/tonne CFR China for first-half March arrival.

By: Staff Reporter
+44 20 8652 3214

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