NOON SNAPSHOT - Asia Markets Summary

06 May 2013 05:00  [Source: ICIS news]

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

CRUDE: June WTI $96.65/bbl, up $1.04/bbl; June BRENT $104.98/bbl, up 79 cents/bbl
Crude futures strengthened in Asian morning trade, buoyed by positive US employment data and heightened Middle East tensions following Israeli air strikes in Syria.

NAPHTHA: $855-858/tonne CFR Japan, up $21.50-22.50/tonne
Open-spec second-half June prices rose on Monday morning, supported by rising crude futures.

BENZENE: $1,302-1,312/tonne FOB Korea, up $5-10/tonne
Offers for July loading was at $1,305-1,310/tonne FOB Korea against bids at $1,295/tonne FOB Korea. No discussions were heard for June parcels, while offers for August cargoes emerged at $1305/tonne FOB Korea.

TOLUENE: $1,140-1,145/tonne FOB Korea, up $15 at the low end, down $1/tonne at the high end
A deal for July loading was closed at $1,162/tonne FOB Korea in the morning session. Offers for July parcels were subsequently quoted at $1,165-1,168/tonne FOB Korea against bids at $1,155/tonne FOB Korea.

ETHYLENE: $1,170-1,190/tonne CFR NE Asia, stable
Buying ideas for second-half May arrivals remained capped at $1,150/tonne CFR Taiwan, but firm offers were scarce Monday morning in the absence of key players in Japan because of the Golden Week holidays on 3-5 May.

PROPYLENE: $1,300-1,320/tonne CFR NE Asia, steady
Selling ideas remained at the low-$1,300/tonne CFR NE Asia levels against buying ideas at around $1,300/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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