EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: May WTI $92.45/bbl, down $1.06/bbl; May BRENT $103.00/bbl, down $1.27/bbl
Crude futures weakened in the afternoon trade, with ICE Brent prices slipping to its lowest levels in eight months amid concerns in cuts over global oil demand growth 2013 following cuts in forecasts from OPEC and the IEA.

NAPHTHA: $858.00-860.00/tonne CFR Japan, down $4.50-5.50/tonne
Open-spec second-half May contract extended crude-led losses in afternoon trading. The first-half June/first-half July spread changed hands at $11/tonne in backwardation. PetroChina was the seller, while BP was the buyer.

BENZENE: $1,295-1,305/tonne FOB Korea, $5/tonne
Offers for June loading fell in the afternoon session to $1,305/tonne FOB Korea, with limited buying interest. For July cargoes, offers also fell to $1,300/tonne FOB Korea with bids countered at $1,290-1,295/tonne FOB Korea.

TOLUENE: $1,140-1,150/tonne FOB Korea, down $5/tonne
Offers for second-half May loading eased to $1,145/tonne FOB Korea. For June parcels, offers were at $1,160/tonne FOB Korea against bids at $1,145/tonne FOB Korea.

ETHYLENE: $1,240-1,260/tonne CFR NE Asia, stable
Ethylene prices were stable amid ongoing discussions to sell May shipment cargoes at around $1,250/tonne CFR NE Asia.

PROPYLENE: $1,300-1,330/tonne CFR NE Asia, down $10-20/tonne
Several regional cargoes for arrival in the first half of May were heard sold into east China at the above price range.

By: Staff Reporter
+44 20 8652 3214

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