NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: June WTI $91.90/bbl, up 47 cents/bbl; June BRENT $102.18/bbl, up 45 cents/bbl
Crude futures strengthened in Asian morning trade, following on from overnight gains. Prices were buoyed by a larger-than-expected decline in US gasoline stocks and positive growth data from South Korea.

NAPHTHA: $846.50-849.50/tonne CFR Japan, up $11-12/tonne
Open-spec first-half June contract rose in morning trading on the back of higher crude futures.

BENZENE: $1,300-1,310/tonne FOB Korea, down $5-10/tonne
A fixture was settled at $1,300/tonne FOB Korea for July loading, with subsequent discussions hovering at $1,295-1,305/tonne FOB Korea. For June cargoes, offers were at $1,310/tonne FOB Korea, which were countered with bids at $1,290-1,300/tonne FOB Korea.

TOLUENE: $1,125-1,150/tonne FOB Korea, up $2/tonne at the high end
Offers were higher in the morning session at $1,168-1,170/tonne FOB Korea for July cargoes amid the absence of buyers. Bids for June parcels were quoted at $1,135-1,140/tonne FOB Korea but there were no takers.

ETHYLENE: $1,170-1,200/tonne CFR NE Asia, stable
No fresh deals were heard as most buyers in China have covered their May requirements.

PROPYLENE: $1,270-1,290/tonne CFR NE Asia, stable
Buying ideas were capped at $1,270-1,280/tonne CFR NE Asia and there was no interest in buying propylene at close to $1,300/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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