EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: June WTI $96.32/bbl, up 71 cents/bbl; June BRENT $104.80/bbl, up 61 cents/bbl
Crude futures continued to trade above the previous session close on Monday afternoon supported by upbeat US employment data and heightened Middle East tensions following Israeli air strikes in Syria.

NAPHTHA: $852.50-854.50/tonne CFR Japan, down $2.50-3.50/tonne
Open-spec second-half June prices retreated slightly in afternoon trading but remained well above the levels on 3 May because of overall stronger crude futures. The second-half June/second-half July spread was traded at $11/tonne in backwardation.

BENZENE: $1,298-1,305/tonne FOB Korea, down $4-7/tonne
Four July cargoes were closed at $1,295/tonne FOB Korea. Subsequently, offers for July cargoes were quoted at $1,300/tonne FOB Korea, against bids at $1,291/tonne FOB Korea.

TOLUENE: $1,145-1,158/tonne FOB Korea, up $5-13/tonne
A June cargo was sealed at $1,156/tonne FOB Korea in the afternoon session. Offers for August parcels were at $1,165/tonne FOB Korea, which were countered with bids at $1,145/tonne FOB Korea.

ETHYLENE: $1,170-1,190/tonne CFR NE Asia, stable
A buyer was seeking a second-half May-arrival cargo at $1,150/tonne CFR Taiwan, but firm offers were limited. Discussions are expected to heighten in the coming days when key market players in Japan return from the Golden Week holidays.

PROPYLENE: $1,310-1,330/tonne CFR NE Asia, up $10/tonne
Sporadic selling ideas were heard at $1,330-1,340/tonne CFR NE Asia against buying ideas at the low-$1,300/tonne CFR NE Asia levels.

By: Staff Reporter
+44 20 8652 3214

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