EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: WTI APR $92.90/bbl, up 65 cents; BRENT APR $109.84/bbl, up 19 cents
Crude prices rose on Wednesday afternoon in Asia on the back of an unexpected decline in US crude stocks.

NAPHTHA: $949-951/tonne CFR Japan, down $1/tonne at the high end
Open-spec second-half April contract pulled back from earlier mild gains. There were no physical trades in the session.

BENZENE: $1,315-1,320/tonne FOB Korea, down $15-20/tonne
Offers and bid levels for May cargoes inched down in the afternoon session, with April discussions reappearing. Offers for April laoding were at $1,320/tonne FOB Korea, against bids at $1,285/tonne FOB Korea.

TOLUENE: $1,175-1,180/tonne FOB Korea, up $3-5/tonne
The wide gap in buying and selling indications narrowed from the morning, as offers for May-loading cargoes softened to $1,180-1,183/tonne FOB Korea, meeting bids at $1,172-1,175/tonne FOB Korea.

ETHYLENE: $1,290-1,310/tonne CFR NE Asia, down $10/tonne
A regional spot cargo was heard sold into Taiwan at $1,270/tonne CFR for mid-April arrival although this could not be immediately confirmed.

PROPYLENE: $1,280-1,320/tonne CFR NE Asia, down $20/tonne at the low end
Buying ideas for April arrival cargoes were unchanged at $1,280-1,300/tonne CFR NE Asia against selling interest at $1,320-1,330/tonne CFR NE Asia for April arrival, market sources said.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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