NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: WTI May $96.09/bbl, down 25 cents/bbl; BRENT May $109.23/bbl, down 13 cents/bbl
Crude futures edged lower on Wednesday morning after gaining ground in the previous session buoyed by upbeat US economic data.

NAPHTHA: $938-941/tonne CFR Japan, up $10-11/tonne
Open-spec first-half May contract rose in morning trading, supported by overnight gains in crude futures.

BENZENE: $1,295-1,315/tonne FOB Korea, down $3/tonne at low end                 
Discussions were limited in the morning session, with offers for June cargoes at $1,295/tonne FOB Korea countered by bids at $1,280/tonne FOB Korea.

TOLUENE: $1,090-1,115/tonne FOB Korea, stable           
A 4,000 tonne lot was offered at $1,115/tonne FOB Korea for first-half April loading, but there were no takers. Bids for June parcels were at $1.100-1,125/tonne FOB Korea in the absence of sellers.

ETHYLENE: $1,260-1,290/tonne CFR NE Asia, stable
A wide buy-sell gap continued to hamper trades. Price discussions were limited and players adopted a wait-and-see stance.

PROPYLENE: $1,320-1,340/tonne CFR NE Asia, stable
Selling ideas were heard at $1,350/tonne CFR NE Asia or above against buying ideas at the low $1,300s/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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