EVENING SNAPSHOT - Asia Markets Summary

17 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 $95.52/bbl, up 36 cents/bbl; July BRENT $104.35/bbl up 57 cents/bbl
Crude futures strengthened in Asian afternoon trade, amid news of disruptions to Iraqi supplies and further violence in Nigeria.

NAPHTHA: $866.75-868.75/tonne CFR Japan, up $5.25-6.25/tonne
Open-spec first-half July prices extended gains in afternoon trading as Brent crude futures held near $104/bbl. Meanwhile, the first-half July/second-half July spread was done at a backwardation of $4.75/tonne.

BENZENE: $1,283-1,290/tonne, up $3/tonne
A July lot was booked at $1,286/tonne FOB Korea. Bids for spread between second-half June and July parcels were at a backwardation at $3-4/tonne on FOB Korea basis.

TOLUENE: $1,130-1,135/tonne, down $5/tonne at the high end
Bids for second-half June loading were at $1,125-1,130/tonne FOB Korea, but there were no takers. July discussions were at $1,130-1,150/tonne FOB Korea, with the prices range narrowing towards $1,145-1,1,47/tonne FOB Korea but no deal was concluded.

ETHYLENE: $1,180-1,230/tonne CFR NE Asia, stable
No fresh deals were heard, while some end-users maintained buying interest at below $1,200/tonne CFR NE Asia.

PROPYLENE: $1,330-1,340/tonne CFR NE Asia, up $10/tonne at the low end
Buyers were mostly on the sidelines after recent purchases. Buying ideas were capped at around $1,330/tonne CFR NE Asia, versus selling indications at $1,340-1,350/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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