EVENING SNAPSHOT - Asia Markets Summary

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

SINGAPORE (ICIS)--Here is Thursday’s end-of-day 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 continued to decline in Asian afternoon trade amid worries over global demand following the release of downbeat economic data from China and a larger-than-expected build in US gasoline stocks.

NAPHTHA: $858.00-860.00/tonne CFR Japan, up $0.50/tonne at the low end, down $0.50/tonnes at the high end
Open-spec first-half July traded at a tighter range in afternoon trading amid falling crude futures. Firm gasoline blending demand helped cushioned naphtha from further losses.

BENZENE: $1,290-1,300/tonne FOB Korea, down $5/tonne
Two July cargoes were closed at $1,290/tonne FOB Korea, with two August lots settled at $1,283-1,284/tonne FOB Korea.

TOLUENE: $1,120-1,140/tonne FOB Korea, down $5-10/tonne
Two July parcels were sealed at $1,127-1,140/tonne FOB Korea and two August cargoes closed at $1,135-1,145/tonne FOB Korea.

ETHYLENE: $1,200-1,230/tonne CFR NE Asia, up $10/tonne at the low end
Selling indications were heard at around $1,250/tonne CFR NE Asia versus buying interest ranging from below $1,200/tonne to the low-$1,200s/tonne CFR NE Asia.

PROPYLENE: $1,340-1,360/tonne CFR NE Asia, up $10/tonne
A regional spot cargo was heard sold at $1,355/tonne CFR China for second-half June arrival.

By: Staff Reporter
+44 20 8652 3214

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