24 April 2013 05:00 [Source: ICIS news]
SINGAPORE (ICIS)--Here is Wednesday’s midday Asia oil and chemical markets summary.
CRUDE: June WTI $89.49/bbl, up 31 cents/bbl; June BRENT $100.51/bbl, up 20 cents/bbl
Crude futures firmed in Asian morning trade, after industry data revealed a small but unexpected decline in US crude stocks and a larger-than-forecast fall in gasoline inventories.
NAPHTHA: $839-842/tonne CFR Japan, up $6-7/tonne
Open-spec first-half June contract rose in morning trading, as Brent crude futures traded above $100/bbl.
BENZENE: $1,308-1,310/tonne FOB Korea, up $8/tonne at the low end
Bid levels rose in the morning session, buoyed by improved sentiment as the US and European markets strengthened. Bids for June loading were at $1,305-1,306/tonne FOB Korea, while offers were at $1,310-1,312/tonne FOB Korea. For July cargoes, offers were at $1,307-1,310/tonne FOB Korea, which were countered with bids at $1,300-1,303/tonne FOB Korea.
TOLUENE: $1,125-1,145/tonne FOB Korea, stable
Sporadic offers were heard in the morning session, with buyers staying on the sidelines. Offers for June cargoes were at $1,148/tonne FOB Korea, while offers for July parcels were at $1,155-1,160/tonne FOB Korea.
ETHYLENE: $1,180-1,200/tonne CFR NE Asia, down $20/tonne at the high end
Buying ideas were heard at $1,150/tonne CFR NE Asia and below against selling ideas at $1,200/tonne CFR NE Asia for second-half May arrival.
PROPYLENE: $1,270-1,290/tonne CFR NE Asia, stable
Selling ideas at close to $1,300/tonne CFR NE Asia were met with buying ideas in the mid-to-high $1,200/tonne CFR NE Asia levels.
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