EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: WTI May $88.41/bbl, up 68 cents/bbl; BRENT Jun $99.73/bbl, up 60 cents/bbl
Crude futures strengthened on Friday afternoon in Asia as buyers returned to the market after recent sharp price falls. Expectations that the OPEC could meet to discuss the recent decline in prices added support. However, concerns over the global economy particularly the US and China remain.

NAPHTHA: $835.50-837.50/tonne CFR Japan, down $3.50-4.50/tonne
Open-spec first-half June contract retreated in afternoon trading, shrugging off a rebound in crude futures as concerns over weakening petrochemical demand lingered.

BENZENE: $1,310-1,320/tonne FOB Korea, down $5/tonne.
Bids and offers for July parcels were heard at $1,305-1,315/tonne FOB Korea but moderated to $1,300-1,315/tonne in the afternoon. Several July deals were concluded at $1,300-1,310/tonne FOB Korea.

TOLUENE: $1,125-1,130/tonne FOB Korea, up by $5/tonne at low end   
Discussions for June lots gained momentum during the day, with a deal done for a June cargo at $1,136/tonne FOB Korea. Bids for June lots were at $1,130-1,136/tonne FOB Korea against offers at $1,140-1,146/tonne FOB Korea.           

ETHYLENE: $1,200-1,240/tonne CFR NE Asia, stable
No fresh trades were heard done following deals done at within the above range for May arrival mostly done earlier in the week.

PROPYLENE: $1,260-1,290/tonne CFR NE Asia, down $10 at low end
Selling ideas were heard at close to $1,300/tonne CFR NE Asia but failed to attract interest as buying ideas were mainly at the mid-to-high-$1,200s/tonne CFR SE Asia.

By: Staff Reporter
+44 20 8652 3214

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