NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: July WTI $93.79/bbl, down 49 cents/bbl; July BRENT $102.16/bbl, down 44 cents/bbl
Crude futures weakened in Asian morning trade amid a larger-than-expected build in US gasoline stocks. There were also concerns over the strength of the US recovery after the Federal Reserve said it was too early to end its monetary stimulus programme.

NAPHTHA: $857.50-860.50/tonne CFR Japan, down $5.00-6.00/tonne
Open-spec first-half July prices fell in morning trading because of crude losses.

BENZENE: $1,295-1,305/tonne FOB Korea, down $5/tonne
Discussions for July loading were at $1,295-1,300/tonne FOB Korea, marginally lower than previous day's close. For August cargoes, offers slipped to $1,293/tonne FOB Korea from $1,295/tonne FOB Korea, while bids were at $1,285/tonne FOB Korea.

TOLUENE: $1,130-1,145/tonne, down $5-10/tonne
An August lot was sealed in the morning session at $1,150/tonne FOB Korea. Offers for August loading were at $1,152-1,155/tonne FOB Korea, against bids at $1,145-1,150/tonne FOB Korea. For July parcels, offers fell to $1,148/tonne FOB Korea from $1,150/tonne FOB Korea, while bids stood at $1,135/tonne FOB Korea.

ETHYLENE: $1,190-1,230/tonne CFR NE Asia, stable
No fresh deals were heard, while selling ideas remained at above $1,200/tonne CFR NE Asia.

PROPYLENE: $1,330-1,350/tonne CFR NE Asia, stable
Selling ideas were unchanged at or above $1,350/tonne CFR NE Asia, while buying ideas are at the low-$1,300/tonne CFR NE Asia levels.

By: Staff Reporter
+44 20 8652 3214

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