NOON SNAPSHOT - Asia Markets Summary

02 April 2013 05:00  [Source: ICIS news]

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

CRUDE: WTI May $96.78/bbl, down 29 cents/bbl; BRENT May $110.78/bbl, down 30 cents/bbl
Crude futures were trading lower on Tuesday morning, amid concerns over oil demand growth following the release of downbeat economic data from the US.

NAPHTHA: $924-927/tonne CFR Japan, up $7-8/tonne
Open-spec second-half May contract rebounded on overnight gains in Brent crude futures.

BENZENE: $1,285-1,290/tonne FOB Korea, stable
A deal was done at $1,275/tonne FOB Korea for June loading. Offers for June cargoes were at $1,280/tonne FOB Korea and countered with $1,270-1,275/tonne FOB Korea.

TOLUENE: $1,095-1,100/tonne FOB Korea, up $5/tonne at low end
Bids for May parcels were at $1,100/tonne FOB Korea, against offers at $1,115/tonne FOB Korea. For June and July cargoes, bids were quoted at $1,115/tonne FOB Korea.                                                                                                

ETHYLENE: $1,280-1,300/tonne CFR NE Asia, stable
Discussions to sell a 4,000 tonne Taiwanese cargo at $1,280/tonne FOB Taiwan remain inconclusive as bids were capped at $1,250/tonne FOB Taiwan.

PROPYLENE: $1,330-1,350/tonne CFR NE Asia, stable
Buyers capped their interest in spot cargoes at $1,330/tonne CFR NE Asia while selling ideas were heard at above $1,350/tonne CFR NE Asia. The buy-sell gap hampered trade, market sources said.

By: Staff Reporter
+44 20 8652 3214

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