EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: June WTI $93.01/bbl, down 63 cents/bbl; June BRENT $102.85/bbl, down 56 cents/bbl
Crude futures continued to trade below the previous session’s close. Prices eased as traders closed out positions following recent gains and a strengthening of the US dollar. Concerns remain over oil demand from the US and China following recent downbeat economic data

NAPHTHA: $862.00-864.00/tonne CFR Japan, up $4.50-5.50/tonne
Open-spec first-half June contract extended gains in afternoon trading amid refinery run cuts in Asia that could tighten supply in the region.

BENZENE: $1,303-1,310/tonne, up $1/tonne at the low end
A July cargo was booked at $1,295/tonne FOB Korea. The intermonth spread between June and July was discussed at a backwardation at $6-10/tonne.

TOLUENE: $1,130-1,150/tonne FOB Korea, down $5-10/tonne
Three July lots were sealed at $1,150-1,155/tonne FOB Korea in the afternoon session. A regional trader offered second-half May loading at $1,130-1,140/tonne FOB Korea, with counter bids at $1,110/tonne FOB Korea.

ETHYLENE: $1,170-1,190/tonne CFR NE Asia, down $10/tonne at the high end
A regional 3,000- to 3,500-tonne spot cargo for second-half May arrival changed hands at the high-$1,100/tonne CFR China levels.

PROPYLENE: $1,300-1,310/tonne CFR NE Asia, up $10-20/tonne
Selling ideas at $1,310-1,330/tonne CFR NE Asia were met with buying interest ranging from the high-$1,200/tonne levels to $1,300/tonne CFR NE Asia.


By: Staff Reporter
+44 20 8652 3214



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