EVENING SNAPSHOT Asia Market Summary

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

SINGAPORE (ICIS)--Here is Friday’s end-of-day Asia oil and chemical market summary from ICIS.

CRUDE: WTI Jul $92.63/bbl, down 68 cents; BRENT Jul $101.61/bbl, down 58 cents
Crude futures fell in the afternoon session amid worries over the health of the US economy following an unexpected rise in US crude stockpiles.

NAPHTHA: $861.50-863.50/tonne CFR Japan, down $4.50-5.50/tonne
Open-spec first-half July prices weakened in afternoon trading, in tandem with global crude futures. The second-half July contract was traded at $858.50/tonne and at $858/tonne, while the second-half July/second-half August spread was done at a backwardation of $9.50/tonne.

BENZENE: $1,285-1,288/tonne FOB Korea, $2/tonne at the low end
Two first-half August lots were settled at $1,277/tonne FOB Korea, while a July lot was booked at $1,288/tonne FOB Korea.

TOLUENE: $1,125-1,133/tonne FOB Korea, up $3-5/tonne
Two July parcels were heard closed at $1,130-1,132/tonne FOB Korea, but this could not be confirmed. July cargoes were discussed at $1,128-1,133/tonne FOB Korea.

: $1,350-1,365/tonne CFR NE Asia, down $5/tonne at the high end
Discussions were heard at $1,350-1,355/tonne CFR China Main Port for July arrival while selling ideas at $1,370-1,380/tonne CFR NE Asia failed to attract interest.

ETHYLENE: $1,195-1,220/tonne CFR NE Asia, stable
No fresh deals were heard following earlier deals heard done at $1,195-1,200/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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