EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: May WTI $93.38/bbl, up 68 cents/bbl; May BRENT $105.09/bbl, up 97 cents/bbl
Crude futures were higher in the afternoon session amid hopes that Japan’s latest move to boost its economy will spur oil demand.

NAPHTHA: $887-889/tonne CFR Japan, up $5-6/tonne
Open-spec second-half May contract rebounded in afternoon trading in tandem with global crude futures. The first-half June contract was traded at $879/tonne.

BENZENE: $1,303-1,310/tonne, up $3/tonne at the low end, down $5/tonne at the high end
A deal for the intermonth spread between May and June was settled at a backwardation of $8/tonne. Offers for June cargoes were at $1,300/tonne FOB Korea against bids at $1,291-1,296/tonne FOB Korea.

TOLUENE: $1,140-1,145/tonne, up $5-15/tonne
Discussion levels edged up in tandem with higher xylene prices, with bids for May quoted at $1,125-1,140/tonne FOB Korea in the absence of sellers.

ETHYLENE: $1,280-1,310/tonne CFR NE Asia, stable
Trades remained subdued in the afternoon, with traders holding offers steady at $1,270-1,280/tonne CFR NE Asia for H2 April-arrival cargoes. Firm bids were few.

PROPYLENE: $1,330-1,350/tonne CFR NE Asia, unchanged
Sporadic selling ideas were at above $1,350/tonne CFR NE Asia, while buying ideas were at the low $1,300s/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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