EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: June WTI $91.60/bbl, up 17 cents/bbl; June BRENT $101.62/bbl, down 11 cents/bbl
Brent crude futures softened in the afternoon trade, undermined by a stronger US dollar. US WTI crude futures maintained some upside following a larger-than-expected decline in US gasoline stocks.

NAPHTHA: $846.50-848.50/tonne CFR Japan, down $1 at the high end
Open-spec first-half June contract price range narrowed in afternoon trading, following a cash trade whereby the second-half June contract was done at $840/tonne.

BENZENE: $1,300-1,310/tonne FOB Korea, steady
A deal for July loading at $1,300/tonne FOB Korea in the afternoon session. For the intermonth spread between June and July, a deal was settled  at a backwardation of $10/tonne.

TOLUENE: $1,125-1,148/tonne FOB Korea, down $2/tonne on upper end           
A June cargo was closed at $1,148/tonne FOB Korea. Offers for second-half May loading were at $1,135-1,140/tonne FOB Korea, with bids countered at $1,110-1,115/tonne FOB Korea.

ETHYLENE: $1,170-1,200/tonne CFR NE Asia, stable
Talk of a deal done at $1,170/tonne CFR China for mid-May arrival circulated in the market but there were no details. The deal could not be confirmed.

PROPYLENE: $1,280-1,300/tonne CFR NE Asia, up $10/tonne
Selling ideas were heard at above $1,300/tonne CFR NE Asia, while buying ideas were mostly capped at the high-$1,200/tonne CFR NE Asia levels.

By: Staff Reporter
+44 20 8652 3214

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