NOON SNAPSHOT - Asia Markets Summary

01 March 2013 04:00  [Source: ICIS news]

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

CRUDE: Apr WTI $91.64/bbl, down 41 cent/bbl; Apr BRENT $111.08/bbl, down 30 cents/bbl
Crude prices weakened in morning trade amid concerns over the US economy and the unresolved budget crisis. 

NAPHTHA: $971-974/tonne CFR Japan, down $25-26/tonne
Open-spec second-half April contract fell in morning trading in tandem with global crude futures.

BENZENE: $1,391-1,398/tonne FOB Korea, up $8-15/tonne
Prices rebounded in the morning session, following overnight gains in the US market. But discussions were limited because of softer crude futures. Bids for April cargoes were at $1,391/tonne FOB Korea, but there were no takers.

TOLUENE: $1,225-1,245/tonne FOB Korea, down $5/tonne on low end, up $5/tonne on high end
Market was thinly traded in the morning session amid a holiday in South Korea and weak market sentiment in the key China marekt. A bid emerged for March cargo at $1,220/tonne FOB Korea, but no offers were heard.

ETHYLENE: $1,400-1,430/tonne CFR NE Asia, stable
A regional spot cargo was heard sold at $1,420/tonne CFR China for second-half March arrival, although this could not be immediately confirmed.

PROPYLENE: $1,380-1,400/tonne CFR NE Asia, unchanged
Buying ideas were heard at around $1,370-1,380/tonne CFR NE Asia against selling interest at $1,400/tonne CFR NE Asia or higher.


By: Staff Reporter
+44 20 8652 3214



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