NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: WTI May $93.22/bbl, down 28 cents/bbl; BRENT May $108.56/bbl, down 16 cents/bbl
Crude futures fell on Thursday morning amid uncertainty over Cyrus’ ability to avoid a financial meltdown after it rejected terms for an European bailout.

NAPHTHA: $922-925/tonne CFR Japan, up $3/tonne
Open-spec first-half May contract rose in morning trading, shrugging off lower crude futures. However, concerns over the weakening petrochemical demand weighed on the market.

BENZENE: $1,255-1,280/tonne FOB Korea, up $10-20/tonne
Four deals were closed for June loading in the morning session at $1,260-1,270/tonne FOB Korea. Bids for May cargoes were at $1,255/tonne FOB Korea, but there were no takers.

TOLUENE: $1,110-1,130/tonne FOB Korea, up $10-15/tonne
Offers for June loading were at $1,130/tonne FOB Korea, against bids at $1,125-1,120/tonne FOB Korea. For July, bids were at $1,123/tonne FOB Korea.

ETHYLENE: $1,240-1,260/tonne CFR NE Asia, stable
Buying ideas were unchanged at below $1,250/tonne CFR NE Asia but no offers were heard.

PROPYLENE: $1,300-1,330/tonne CFR NE Asia, stable
Selling ideas were heard at $1,330-1,350/tonne CFR NE Asia for second-half April arrival against buying ideas that were maintained at the low-$1,300s/tonne CFR NE Asia.



By: Staff Reporter
+44 20 8652 3214



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