EVENING SNAPSHOT - Asia Markets Summary

18 April 2013 11:03  [Source: ICIS news]

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

CRUDE: May WTI $87.91/bbl up $1.23/bbl; June BRENT $99.08/bbl, up $1.39/bbl
Crude futures gained more than $1/bbl in afternoon trade in Asia, with prices supported by a weaker US dollar and bargain-hunting following recent sharp falls.

NAPHTHA: $827.50-829.50/tonne CFR Japan, up $10-11/tonne
Open-spec first-half June contract pared losses in afternoon trading as crude futures bounced higher.

BENZENE: $1,280-1,290/tonne FOB Korea, stable
Weak energy futures overnight, with US crude falling below $86/bbl, weighed on the benzene market. Bids and offers for June parcels were heard at $1,270-1,288/tonne FOB Korea in the earlier part of the day. Buying indications edged higher in the afternoon to $1,275/tonne FOB Korea but sellers stayed out of the market.

TOLUENE: $1,105-1,115/tonne FOB Korea, down $5/tonne at the low end
An offer for a June cargo at $1,125/tonne FOB Korea was countered with a bid at $1,115/tonne FOB Korea.

ETHYLENE: $1,220-1,240/tonne CFR NE Asia, down $10/tonne at the high end
No fresh trades were heard, while there was muted interest in selling ideas at $1,250-1,260/tonne CFR NE Asia.

PROPYLENE: $1,270-1,290/tonne CFR NE Asia, down $10/tonne
A Japanese spot cargo was heard sold at $1,290/tonne CFR east China for second-half May arrival. Talk of spot propylene available for sale at below $1,270/tonne CFR NE Asia could not be immediately confirmed.

By: Staff Reporter
+44 20 8652 3214

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