EVENING SNAPSHOT - Asia Markets Summary

14 June 2013 11:00  [Source: ICIS news]

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

CRUDE: July WTI $96.99/bbl, up 30 cents/bbl; Aug BRENT $105.22/bbl, up 27 cents/bbl
Crude oil futures rose in the afternoon session amid a weakening of the US dollar.

NAPHTHA: $878.00-880.00/tonne CFR Japan, up $3-4/tonne
Open-spec second-half July prices firmed up in the afternoon session, tracking crude prices.

BENZENE: $1,278-1,280/tonne FOB Korea, up $5-6/tonne           
Two September lots were traded at $1,263-1,264/tonne FOB Korea in the afternoon session. The intermonth spread between for July and August was at a backwardation of $10-11/tonne FOB Korea.

TOLUENE: $1,080-1,080/tonne FOB Korea, up $5/tonne at the low end
Two cargoes were sealed at $1,080/tonne FOB Korea for first-half July loading.

ETHYLENE: $1,200-1,230/tonne CFR NE Asia, up $10/tonne at the high end
Sporadic buying interest was mentioned at up to $1,200-1,230/tonne CFR China, versus offers largely at $1,230-1,250/tonne CFR China. In China, there was an interest to secure a 3,500-tonne cargo for arrival in the second half of July, but serious discussions have been put off until late June.

PROPYLENE: $1,370-1,385/tonne CFR NE Asia, up by $5/tonne
Selling ideas for July shipment were heard at $1,390-1,400/tonne CFR NE Asia against buying ideas at $1,360-1,370/tonne CFR NE Asia. A deal was heard done at $1,385/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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