NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: June WTI $96.00/bbl, down 2 cents/bbl; July BRENT $104.76/bbl, up 12 cents/bbl
Crude futures were trading near the previous session’s settlement levels, supported by upbeat economic data from the US.

NAPHTHA: $873.25-876.25/tonne CFR Japan, up $6.50-7.50/tonne
Open-spec first-half July prices rose as Brent crude futures topped $104/bbl.

BENZENE: $1,288-1,294/tonne FOB Korea, up $4-5/tonne
Discussions for July loading gained in the morning session, with bids edging up to $1,286-1,288/tonne FOB Korea and offers at $1,294-1,295/tonne FOB Korea from $1,290/tonne FOB Korea to. For intermonth spread between July and August, discussions narrowed to a backwardation of $6-9/tonne from  $5-10/tonne on an FOB Korea basis.

TOLUENE: $1,135-1,145/tonne FOB Korea, up $5-10/tonne
Offers for second-half June cargoes were at $1,145/tonne FOB Korea, but there were no takers. For July parcels, a bid was quoted at $1,140/tonne FOB Korea amid absence of firm selling interest.

ETHYLENE: $1,180-1,230/tonne CFR NE Asia, stable
Selling indications remained at above $1,200/tonne CFR NE Asia, while no fixtures were heard.

PROPYLENE: $1,330-1,340/tonne CFR NE Asia, steady
No fresh deals were heard, while buying ideas were largely unchanged at below $1,350/tonne CFR NE Asia.


By: Staff Reporter
+44 20 8652 3214



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