EVENING SNAPSHOT - Asia Markets Summary

03 May 2013 11:00  [Source: ICIS news]

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

CRUDE: June WTI $93.87/bbl, down 12 cents/bbl; June BRENT $102.76/bbl, down 9 cents/bbl
Crude futures continued to trade below the previous session close in Asian afternoon trade, ahead of the release of US monthly employment report later on Friday. Crude gained nearly $3/bbl on Thursday after the European Central bank cut interest rates.

NAPHTHA: $833.50-835.50/tonne CFR Japan, down $8.50-9.50/tonne
Open-spec second-half June prices retreated in afternoon trading on lower crude futures. The first-half July contract was traded at $828.50/tonne.

BENZENE: $1,297-1,302/tonne FOB Korea, up $7/tonne
Two more July parcels were sealed at $1,293-1,295/tonne FOB Korea in the afternoon session, with two swap deals done for intermonth between June and July at a backwardation of $7/tonne on an FOB Korea basis.

TOLUENE: $1,125-1,146/tonne FOB Korea, down $4-5/tonne
Negotiations dominated for July loading cargoes, with bids quoted at $1,140-1,145/tonne FOB Korea, which were countered with offers at $1,153-1,160/tonne FOB Korea. A deal was heard concluded at $1,140/tonne FOB Korea for June parcel, but this could not be confirmed.

ETHYLENE: $1,170-1,190/tonne CFR NE Asia, stable
Selling indications for June arrival were unchanged at or above $1,200/tonne CFR NE Asia against buying ideas at below $1,200/tonne CFR NE Asia. There remained selected interest for second-half May arrival, but negotiations are expected to continue in the following week.

PROPYLENE: $1,300-1,320/tonne CFR NE Asia, steady
A regional spot cargo was heard sold at $1,325/tonne CFR China for early June arrival.

By: Staff Reporter
+44 20 8652 3214

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