05 March 2013 04:00 [Source: ICIS news]
SINGAPORE (ICIS)--Here is Tuesday’s midday Asia oil and chemical market summary from ICIS.
CRUDE: WTI APR $90.31/bbl up 19 cents; BRENT APR $110.55/bbl, up 46 cents
Crude prices strengthened on Tuesday morning supported by a weaker US dollar and a announcement from China that it would boost spending in 2013 in a bid to achieve 7.5% economic growth.
NAPHTHA: $958.50-961.50/tonne CFR Japan, down 50 cents/tonne
Open-spec second-half April contract inched lower, shrugging off a recovery in Brent crude futures.
BENZENE: $1,360-1,365/tonne FOB Korea, up $10-20/tonne
Two May cargoes were booked at $1,340-1,345/tonne FOB Korea in the morning session. Bids for April loading were at $1,340-1,360/tonne FOB Korea, in the absence of sellers.
TOLUENE: $1,190-1,199/tonne FOB Korea, down $4/tonne on the low end
Sellers were largely sidelined in the morning session, in view of a possible price rebound. Bids for May cargoes were at $1,180-1,190/tonne FOB Korea.
PROPYLENE: $1,350-1,390/tonne CFR NE Asia, down $10/tonne
Buying interest remained at below $1,350/tonne CFR NE Asia while there were talk of offers/selling indications at $1,360-1,390/tonne CFR NE Asia.
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