NOON SNAPSHOT - Asia Markets Summary

15 April 2013 05:22  [Source: ICIS news]

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

CRUDE: WTI May $89.10/bbl, down $2.19; BRENT May $101.15/bbl, down $1.96
Crude futures fell sharply in the morning on the back of concerns over the strength of the US and Chinese economies following the release of downbeat economic data.

NAPHTHA: $846-849/tonne CFR Japan, down $11-12/tonne
Open-spec first-half June contract fell in the morning trading session, in tandem with the decline in global crude futures.

BENZENE: $1,275-1,290/tonne FOB Korea, down $15-20/tonne
Weak crude futures at below $90/bbl dampened market sentiment. A June deal was concluded at $1,295/tonne FOB Korea early in the morning. Subsequently, bids and offers for June cargoes declined to $1,275-1,290/tonne FOB Korea.

TOLUENE: $1,140-1,150/tonne FOB Korea, stable
Discussions were heard within the previous assessed range. A sole offer for a second-half May cargo was at $1,145/tonne FOB Korea. June-loading cargoes were offered $5/tonne lower from 12 April at $1,155/tonne FOB Korea and bids declined by $10/tonne to $1,135/tonne FOB Korea.

ETHYLENE: $1,240-1,260/tonne CFR NE Asia, stable
Sporadic buying interest for second-half May cargoes was capped at around $1,250/tonne CFR China, but no offers were heard in the morning.

$1,300-1,330/tonne CFR NE Asia, stable
No firm talks were heard, as several end-users said their requirements are covered for May.

By: Staff Reporter
+44 20 8652 3214

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