NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: June WTI $96.15/bbl  down 24 cent/bbl; June BRENT $104.26/bbl, down 21 cents/bbl
Crude futures edged lower on Friday morning in Asia amid concerns over an increase in inflation and lower factory prices in China. However, downside pressure was offset by supportive US employment data.

NAPHTHA: $871.50-874.50/tonne CFR Japan, up $4.00-5.00/tonne
Open-spec second-half June prices rose on midday, supported by prospects of reduced supplies on lower refinery runs in Asia.

BENZENE: $1,293-1300/tonnes FOB Korea, unchanged
No discussions were heard in the morning session. A June cargo was confirmed sold at $1,295/tonne FOB Korea the previous day.

TOLUENE: $1,145-1,160/tonne FOB Korea, flat
Trading was subdued. The intermonth spread between June and July was at a contango of less than $10/tonne on an FOB Korea basis.

ETHYLENE: $1,160-1,180/tonne CFR NE Asia, stable
Buying ideas were unchanged at near $1,150/tonne CFR NE Asia, but there were no offers so far.

PROPYLENE: $1,320-1,330/tonne CFR NE Asia, steady
Selling ideas were at $1,330-1,340/tonne against buying ideas at the low $1,300/tonne levels.

By: Staff Reporter
+44 20 8652 3214

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