EVENING SNAPSHOT - Asia Markets Summary

07 March 2013 10:00  [Source: ICIS news]

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

CRUDE: Apr WTI $90.62/bbl, up 19 cents/bbl; Apr BRENT $111.10/bbl, up 4 cents/bbl
Crude prices made modest gains on Thursday afternoon as a weaker US dollar helped offset concerns over a larger than expected build in US crude stocks.

NAPHTHA: $955-957/tonne CFR Japan, down $5-6/tonne
Open-spec second-half April contract extended losses in afternoon trading, after a first-half May contract got traded at $940/tonne. The first-half May/second-half May spread was done at a backwardation of $12/tonne.

BENZENE: $1,360-1,370/tonne FOB Korea, stable
A second May parcel was sealed in the afternoon session at $1,340/tonne FOB Korea. May is priced at a backwardation of $20/tonne to second-half April.    

TOLUENE: $1,205-1,216/tonne FOB Korea, down $5-14/tonne
A deal for May loading was closed at $1,218/tonne FOB Korea. For April, offers were at $1,216/tonne FOB Korea against bids at $1,205/tonne FOB Korea.

ETHYLENE: $1,330-1,350/tonne CFR NE Asia, stable
No spot deals were heard but buying ideas remained at below $1,350/tonne CFR NE Asia.

PROPYLENE: $1,320-1,350/tonne CFR NE Asia, unchanged
Buying ideas were capped at around the low-$1,300/tonne CFR NE Asia levels while some market sources said there were still March cargoes available for sale at below $1,350/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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