NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: WTI May $93.31/bbl, down 20 cents/bbl; BRENT May $104.38/bbl, up 11 cents/bbl
Crude futures edged higher on Friday morning after sharp falls in the previous session. Crude prices eased on Thursday amid cuts in global oil demand growth forecasts for 2013.

NAPHTHA: $862.50-865.50/tonne CFR Japan, down $7.50-8.50/tonne
Open-spec second-half May contract fell in morning trading on the back of overnight losses in crude futures.

BENZENE: $1,300-1,310/tonne FOB Korea, down $5-10/tonne
A June lot was sold at $1,305 FOB Korea. Subsequently, discussions for June loading were at $1,300-1,310 FOB Korea. June is priced at parity to May.

TOLUENE: $1,145-1,155/tonne FOB Korea, stable
Offers for June cargoes were at $1,165 FOB Korea against bids at $1,157 FOB Korea.  For  July parcels, offers were at $1,170 FOB Korea and were countered at $1,162 FOB Korea.

ETHYLENE: $1,240-1,260/tonne CFR NE Asia, down $20/tonne
Several deals were heard concluded at $1,240-1,260/tonne CFR NE Asia for cargoes arriving in May, following weak buying interest for higher numbers on the back of an easing in feedstock naphtha values and poor downstream markets.

PROPYLENE: $1,320-1,340/tonne CFR NE Asia, down $10/tonne at low end
Buying ideas weakened to $1,300/tonne CFR NE Asia or below, following the recent slump in feedstock naphtha and crude prices, while selling ideas were heard at $1,330-1,340/tonne CFR NE Asia, market sources said.

By: Staff Reporter
+44 20 8652 3214

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