NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: July WTI $94.81/bbl, down 20 cents/bbl;  July BRENT $104.14/bbl, down 9 cents/bbl
Crude futures edged lower on Asian morning trade after gaining ground in the previous session amid upbeat US economic data and Middle East tensions.

NAPHTHA: $884-887/tonne CFR Japan, up $6.50-7.50/tonne
Open-spec first-half July prices rose in morning trading on the back of overnight gains in global crude futures.

BENZENE: $1,292-1,298/tonne FOB Korea, up $5-12/tonne
For July loading, bids stood at $1,290/tonne FOB Korea, with early offers quoted at $1,295/tonne FOB Korea. Offers for August parcels declined over the morning session to $1,287/tonne FOB Korea from $1,290/tonne FOB Korea.

TOLUENE: $1,130-1,143/tonne FOB Korea, up $5-8/tonne
July discussions narrowed to $1,140-1,143/tonne FOB Korea from $1,135-1,150/tonne FOB Korea, with a deal closed at $1,143/tonne FOB Korea. For August cargoes, discussion were at $1,140-1,150/tonne FOB Korea. A bid for intermonth spread between July and August was quoted at a contango of $10/tonne on FOB Korea amid absence of selling interest.

ETHYLENE: $1,190-1,220/tonne CFR NE Asia, stable
Buying ideas remained unchanged from some end-users at below $1,200/tonne CFR NE Asia, with discussions underway.

PROPYLENE: $1,350-1,370/tonne CFR NE Asia, stable
Buying interest remained capped at near $1,350/tonne CFR NE Asia for July shipments, while selling ideas were at the high-$1,300s/tonne CFR NE Asia.


By: Staff Reporter
+44 20 8652 3214



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