NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: June WTI $95.35/bbl, down 69 cent/bbl; June BRENT $103.29/bbl, down 62 cents/bbl
Crude futures declined in Asian morning trade, amid worries over the global oil demand implications of weak economic data from the US.

NAPHTHA: $872.50-875.50/tonne CFR Japan, down $2.00-3.00/tonne
Open-spec second-half June prices drifted lower in tandem with global crude futures.

BENZENE: $1,280-1,295/tonne FOB Korea, down $13/tonne at the low end, up $2/tonne at the high end
Trade was thin in the morning. Offers for June parcels were heard at around $1,290-1,295/tonne FOB Korea against bids at below $1,280/tonne FOB Korea. Offers were also heard for July lots at $1,290/tonne FOB Korea while buying interest was thin.

TOLUENE: $1,140-1,150/tonne FOB Korea, unchanged
Discussions were subdued in the morning session. Bids for July-loading lots were at $1,150-1,155/tonne FOB Korea. On a CFR basis, bids for June and July-loading parcels were at $1,180/tonne CFR China.

PROPYLENE: $1,320-1,330/tonne CFR NE Asia, stable
Prices were notionally unchanged, with buying ideas in the low-$1,300/tonne CFR NE Asia levels, versus selling indications at $1,330-1340/tonne CFR NE Asia.

ETHYLENE: $1,160-1,180/tonne CFR NE Asia, steady
Few offers surfaced, whereas buying interest for a 2,300- to 2,500-tonne end-May/early June arrival cargo remained capped at $1,150/tonne CFR Taiwan.

By: Staff Reporter
+44 20 8652 3214

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