EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: May WTI $88.38/bbl, up 37 cents/bbl; June BRENT $100.19/bbl, up 54 cents/bbl
Crude futures strengthened on Monday afternoon in Asia, supported by a softer US dollar and renewed buying interest following recent sharp price falls. Nevertheless, worries over global oil demand remain following recent weak economic data from the US and China.

NAPHTHA: $835.50-837.50/tonne CFR Japan, up $1.00-2.00/tonne
Open-spec first-half June contract erased earlier losses in afternoon trading as Brent crude futures increased. The second-half June contract changed hands at $829/tonne.

BENZENE: $1,310-1,320/tonne FOB Korea, down $5/tonne at the low end
A deal was concluded at $1,315/tonne FOB Korea for June shipments, with subsequent bids fluctuating over the afternoon session at $1,310-11,316/tonne FOB Korea. Offers were standing at $1,319-1,325/tonne FOB Korea.

TOLUENE: $1,125-1,145/tonne FOB Korea, stable
A deal for June loading was closed at $1,145/tonne FOB Korea, while a fixture for July cargo was settled at $1,155/tonne FOB Korea. By close of trade, offers for second-half May loading stood at $1,138/tonne FOB Korea, which were countered with bids at $1,120/tonne FOB Korea. 

ETHYLENE: $1,200-1,240/tonne CFR NE Asia, unchanged
No CFR NE Asia trades were located but a Mideast cargo was heard available for sale at below $1,250/tonne CFR SE Asia.

PROPYLENE: $1,260-1,290/tonne CFR NE Asia, stable
Selling ideas were heard at $1,280-1,310/tonne CFR China for second-half May arrival, but no bids emerged as buyers stayed at the sidelines after the recent market slump.

By: Staff Reporter
+44 20 8652 3214

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