NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: May WTI $87.92/bbl, up 19 cents/bbl; June BRENT $99.36/bbl, up 23 cents/bbl
Crude futures firmed as buyers returned to the market following recent sharp price falls. News of a possible OPEC meeting to discuss the recent fall in prices provided further support.

NAPHTHA: $839.00-842.00/tonne CFR Japan, up $11.50-12.50/tonne
Open-spec first-half June contract rose in morning trading, in tandem with crude futures.

BENZENE: $1,315-1,325/tonne FOB Korea, up $35/tonne
Prices increased on the back of a rebound in US crude futures to around $88/bbl. Bids and offers for July parcels were heard at $1,305-1,315/tonne FOB Korea. Two July deals were heard concluded at $1,305-1,310/tonne FOB Korea.

TOLUENE: $1,120-1,130/tonne FOB Korea, up $15/tonne
Prices rose on a strong rebound in energy futures. Bids for June cargoes rose to $1,130-1,131/tonne FOB Korea, against offers at $1,140-1,165/tonne FOB Korea.

ETHYLENE: $1,200-1,240/tonne CFR NE Asia, down $20/tonne at the low end
Two deals were heard done at $1,195-1,200/tonne CFR China for any May arrival but these fixtures could not be immediately confirmed.

PROPYLENE: $1,270-1,290/tonne CFR NE Asia, stable
Buying interest was mainly at below $1,280/tonne CFR NE Asia but no deals were heard.

By: Staff Reporter
+44 20 8652 3214

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