NOON SNAPSHOT - Asia Markets Summary

07 May 2013 05:03  [Source: ICIS news]

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

CRUDE: Jun WTI $95.70/bbl, down 46 cents/bbl; June BRENT $105.10/bbl, down 36 cents/bbl
Crude futures eased in the morning trade after rallying in the last few sessions amid tensions in the Middle East.

NAPHTHA: $858.00-861.00/tonne CFR Japan, up $5.50-6.50/tonne
Open-spec second-half June prices increased in morning trading on the back of overnight gains in crude futures.

BENZENE: $1,298-1,305/tonne FOB Korea, stable
The market was thinly traded, with the intermonth spread between June and July at zero to a backwardation of $6/tonne on an FOB Korea basis.

TOLUENE: $1,140-1,158/tonne FOB Korea, down $5/tonne at the low end
Offers for June loading were at $1,164/tonne FOB Korea against bids at $1,140/tonne FOB Korea. For July parcels, offers were at $1,169-1,170/tonne FOB Korea, which were countered with bids at $1,150-1,152/tonne FOB Korea.

ETHYLENE: $1,170-1,190/tonne CFR NE Asia, stable
Buy-sell ideas hovered at $1,150-1,180/tonne CFR NE Asia for second-half May-arrival cargoes amid subdued trading as firm offers have yet to surface.

PROPYLENE: $1,310-1,330/tonne CFR NE Asia, steady
Selling ideas remained at the low-$1,300/tonne CFR NE Asia levels against buying ideas at $1,310-1,320/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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