EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: June WTI $93.35/bbl up 35 cents/bbl; June BRENT $103.09/bbl, down 7 cents/bbl
Crude futures recovered to some extent in Asian afternoon trade. US WTI futures were up from the previous session’s close, while ICE Brent futures were trading just a few cents below the settlement price on 26 April. Upside was limited by ongoing concerns over demand following disappointing first-quarter growth data from the US.

NAPHTHA: $857-860/tonne CFR Japan, down $2/tonne
Open-spec first-half June contract extended losses in afternoon trading on weaker Brent  crude futures.

BENZENE: $1,301-1,310/tonne FOB Korea, down $2/tonne at the low end
Buying interest was weak in the absence of Chinese market players. A sole bid for second-half May-loading parcels was at $1,300/tonne FOB Korea. Offers for June shipment lots were at $1,304/tonne FOB Korea against bids at $1,290-1,301/tonne FOB Korea.

TOLUENE: $1,130-1,150/tonne FOB Korea, stable
Trading came to a standstill amid the absence of players from the key China and Japan markets.

ETHYLENE: $1,170-1,190/tonne CFR NE Asia, steady
No CFR NE Asia deals were heard, while buying ideas for May shipments were heard at below $1,150/tonne FOB SE Asia.

PROPYLENE: $1,300-1,310/tonne CFR NE Asia, flat
Sellers generally suspended discussions as buyers in the leading China market were away for holidays.

By: Staff Reporter
+44 20 8652 3214

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