NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: WTI May $94.79/bbl, down 2 cents/bbl; BRENT May $108.19/bbl, up 2 cents/bbl
Crude prices were little changed from the previous session closing levels. Upward pressure generated by the resolution of the Cyprus banking crisis was offset concerns over by bailout terms and the implications for the troubled eurozone economy. 

NAPHTHA: $933.50-936.50/tonne CFR Japan, down 50 cents/tonne at low end, up 50 cents/tonne at high end
Open-spec first-half May contract eased in morning trading, in tandem with global crude futures.

BENZENE: $1,300-1,315/tonne FOB Korea, stable                  
Trading activity was limited in the morning session. Offers for both May and June cargoes were at $1,300/tonne FOB Korea. Bids for May loading were at $1,285-1,287/tonne FOB Korea.

TOLUENE: $1,100-1,120/tonne FOB Korea, down $5/tonne at low end, up $5/tonne at high end    
The offer-bid gap widened in the morning session. Offers for May loading were at $1,130/tonne FOB Korea, countered with bids at $1,110/tonne FOB Korea. For June lots, offers were at $1,140/tonne FOB Korea, against bids at $1,120-1,125/tonne FOB Korea.                                                                                                                                                                                                                                  

ETHYLENE: $1,260-1,290/tonne CFR NE Asia, stable
No fresh deals were heard done while a Japanese spot cargo loading second-half April was sold to a trader on a formula basis, market sources said.

PROPYLENE: $1,300-1,330/tonne CFR NE Asia, stable
Buying ideas remained capped at the low-$1,300s/tonne CFR NE Asia, with some discussions underway.

By: Staff Reporter
+44 20 8652 3214

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