NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Apr WTI $92.29/bbl, down 23 cents/bbl; Apr BRENT $108.37/bbl, down 15 cents/bbl
Crude prices softened on Thursday morning in Asia, undermined by concerns over weak oil demand growth forecasts.

NAPHTHA: $938-941/tonne CFR Japan, down $10-11/tonne
Open-spec second-half April contract fell in morning trading, in tandem with crude futures. Weakening petrochemical demand also dragged down naphtha prices.

BENZENE: $1,303-1,308/tonne FOB Korea, down $12/tonne
Two May cargoes were sold at $1,285-1,289/tonne FOB Korea in the morning session, with subsequent offers at $1,287-1,290/tonne FOB Korea for May. Offers for second-half April loading stood at $1,303-1,308/tonne FOB Korea but there were no takers.

TOLUENE: $1,170-1,190/tonne FOB Korea, down $5/tonne at low end, up $10/tonne at high end
The price range widened on an offer heard at $1,170/tonne FOB Korea for a May-loading cargo. Another offer for May was at $1,190/tonne FOB Korea, while a bid for a June-loading lot was at $1,170/tonne FOB Korea.

ETHYLENE: $1,290-1,310/tonne CFR NE Asia, stable
No fresh deals were heard done, while buying ideas are unchanged at below $1,300/tonne CFR NE Asia.

PROPYLENE: $1,280-1,320/tonne CFR NE Asia, stable
Traders were seeking to sell cargoes at around $1,320/tonne CFR NE Asia or on a floating basis while buyers were keen to buy propylene at below $1,300/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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