NOON SNAPSHOT: Asia Markets Summary

17 June 2013 07:58  [Source: ICIS news]

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

CRUDE: July WTI $97.66/bbl, down 19 cents/bbl; Aug BRENT $105.76/bbl, down 17 cents/bbl
Crude futures edged lower in Asian morning trade, after gaining ground towards the end of last week. Prices eased amid worries over high US inventories and weak global demand forecasts.

NAPHTHA: $882.50-885.50/tonne CFR Japan, up $4.50-5.50/tonne
Open-spec first-half August prices rose in morning trading, as global crude futures settled at higher levels last Friday.

BENZENE: $1,278-1,280/tonne FOB Korea, stable
Buying indications for September parcels were heard at $1,265/tonne FOB Korea against selling indications at $1,270/tonne FOB Korea. Buying indications for August parcels were heard at $1,270/tonne FOB Korea, while offers were limited.

TOLUENE: $1,080-1,080/tonne FOB Korea, unchanged
Discussions were subdued in the morning trading session. There was a bid at $1,082/tonne FOB Korea for a second half July-loading lot. Another bid was heard at $1,095/tonne FOB Korea for a September shipment cargo.

ETHYLENE: $1,200-1,230/tonne CFR NE Asia, stable
Buying ideas for July arrival ethylene cargoes were capped at $1,200/tonne CFR China versus offers at $1,230-1,250/tonne CFR NE Asia.

PROPYLENE: $1,380-1,390/tonne CFR NE Asia, up $5-10/tonne
Selling ideas for July shipment were heard at $1,390-1,400/tonne CFR NE Asia against buying ideas at $1,370-1,380/tonne CFR NE Asia.


By: Staff Reporter
+44 20 8652 3214



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