EVENING SNAPSHOT - Asia Markets Summary

11 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 $94.46/bbl, down 18 cents/bbl; May BRENT $105.55/bbl, down 24 cents/bbl
Crude futures softened in the afternoon trade amid cuts in global oil demand growth forecasts for 2013 by both OPEC and the IEA, and lower  US inventory levels.

NAPHTHA: $871-873/tonne CFR Japan, down $15-16/tonne
Open-spec second-half May contract tumbled in afternoon trading on an unusually high influx of deep-sea naphtha supply from the US.

BENZENE: $1,310-1,315/tonne FOB Korea, down $5-10/tonne
A June deal was settled late in the morning at $1,315/tonne FOB Korea. Another June lot was subsequently sealed at $1,305/tonne FOB Korea in later afternoon. June prices are at parity to May.

TOLUENE: $1,145-1,155/tonne FOB Korea, down $10/tonne
Offers for second-half May loading fell to $1,148-1,150/tonne FOB Korea, but there were no counterbids. For June parcels, discussions were at $1,160-1,175/tonne FOB Korea – similar to negotiations for July cargoes.

ETHYLENE: $1,260-1,280/tonne CFR NE Asia, stable
The highest bids and lowest offers for end-April/May shipment cargoes were hovering at $1,260-1,280/tonne CFR NE Asia amid thin trade.

PROPYLENE: $1,330-1,340/tonne CFR NE Asia, down $10/tonne at the high end
Selling ideas were at above $1,350/tonne CFR NE Asia, while buying ideas were at the low $1,300/tonne CFR NE Asia levels. A deal for May shipment was concluded at $1,340/tonne CFR NE Asia.


By: Staff Reporter
+44 20 8652 3214



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