NOON SNAPSHOT - Asia Markets Summary

14 June 2013 05:00  [Source: ICIS news]

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

CRUDE: July WTI $96.76/bbl, up 7 cents/bbl; Aug BRENT $104.71/bbl, down 24 cents/bbl
Brent crude futures fell in the morning session amid lingering demand worries. Front month July Brent crude expired on Thursday.

NAPHTHA: $874.00-877.00/tonne CFR Japan, up $13-14/tonne
Open-spec second-half July prices were higher in morning trade, tracking higher crude futures.

BENZENE: $1,272-1,275/tonne FOB Korea, down $2/tonne at the high end
Discussions were sparse in the morning session following a softer US market overnight. Offers for September loading were at $1,264-1,265/tonne FOB Korea amid limited buying interest. For August loading, bids were at $1,260-1,262/tonne FOB Korea with no counter offers.

TOLUENE: $1,075-1,080/tonne FOB Korea, down $10-15/tonne
August offers fell to $1,088/tonne FOB Korea from $1,100/tonne FOB Korea, while bids were at $1,080-1,086/tonne FOB Korea. An offer for September was at $1,105/tonne FOB Korea, but there were no takers. Bids for second-half July were at $1,060-1,070/tonne FOB Korea, with no counter offers. For the spread between second-half July and August, bids were at a contango of $11-15/tonne on FOB Korea basis.

ETHYLENE: $1,200-1,220/tonne CFR NE Asia, stable
A wide buy-sell spread hindered trades. Selling indications were at $1,220-1,250/tonne CFR NE Asia, but serious buying interest was subdued.

PROPYLENE: $1,370-1,380/tonne CFR NE Asia, up $10/tonne at the low end
Selling ideas for July shipment were heard at $1,380-1,400/tonne CFR NE Asia against buying ideas at $1,360-1,370/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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