EVENING SNAPSHOT - Asia Markets Summary

20 May 2013 11:00  [Source: ICIS news]

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

CRUDE: June WTI $95.47/bbl, down 55 cents/bbl; July BRENT $104.14/bbl, down 50 cents/bbl
Crude futures weakened in Asian afternoon trade amid a strengthening of the US dollar. Downside was limited by recent upbeat economic data from the US.

NAPHTHA: $874.75-876.75/tonne CFR Japan, up $0.50-1.50/tonne
Open-spec first-half July prices rose in late trading on fresh spot demand in the region.

BENZENE: $1,290-1,297/tonne FOB Korea, up $2-3/tonne
A trader booked a total of five July cargoes at $1,290-1,292/tonne FOB Korea, with a sixth cargo concluded after 10:30 GMT at $1,290/tonne FOB Korea. July is priced at a backwardation of around $5/tonne to second-half June.

TOLUENE: $1,135-1,143/tonne FOB Korea, down $2/tonne at the high end
Prices discussions for July cargoes narrowed to $1,143-1,148/tonne FOB Korea from $1,140-1,150/tonne FOB Korea, while offers for August cargoes were at $1,155/tonne FOB Korea.

ETHYLENE: $1,180-1,230/tonne CFR NE Asia, stable
A regional 3,600-tonne spot cargo was sold to an end-user in China on a floating basis for end-may arrival.

PROPYLENE: $1,330-1,340/tonne CFR NE Asia, unchanged
Buyers remained resistant to selling indications at above $1,350/tonne CFR NE Asia. No deals were heard.

By: Staff Reporter
+44 20 8652 3214

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