EVENING SNAPSHOT - Asia Markets Summary

04 April 2013 11:00  [Source: ICIS news]

SINGAPORE (ICIS)--Here is Thursday’s end-of-day  Asia oil and chemical markets summary.

CRUDE: May WTI $94.43/bbl, down 2 cents/bbl; May BRENT $107.35/bbl, up 24 cents/bbl
Brent crude futures gave some of the gains made earlier in the day, while WTI slipped a few cents below the previous session’s close, undermined by a larger-than-expected build in US crude stocks and weak US jobs data.

NAPHTHA: $896-898/tonne CFR Japan, up $7-8/tonne
Open-spec second-half May contract bounced higher in late trading in tandem with crude futures.

BENZENE: $1,295-1,310/tonne FOB Korea, down $5/tonne at the low end
May cargoes were offered at $1,310/tonne FOB Korea, against bids at $1,290/tonne FOB Korea. For June parcels, offers were quoted at $1,290-1,295/tonne FOB Korea, which were countered bids at $1,285-1,288/tonne FOB Korea.

TOLUENE: $1,115-1,125/tonne, down $5/tonne at the low end
Offers for June cargoes were at $1,145/tonne FOB Korea against bids at $1,125/tonne FOB Korea. Bids for July loading stood at $1,130/tonne FOB Korea, but there were no sellers.

ETHYLENE: $1,280-1,310/tonne CFR NE Asia, stable
Selling ideas were unchanged at above $1,300/tonne CFR NE Asia for May arrival, but buying ideas were mainly capped at the high-$1,200/tonne CFR NE Asia levels prior to the public holidays in China and Taiwan.

PROPYLENE: $1,330-1,350/tonne CFR NE Asia, steady
No CFR NE Asia deals were heard while selling ideas from some traders for May arrival were maintained at above $1,350/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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