EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: July WTI $98.34/bbl, up 49 cents/bbl; Aug BRENT $106.29/bbl, up 36 cents/bbl
Crude futures firmed in the afternoon trade, regaining ground lost earlier in the day amid equity market gains in Asia.

NAPHTHA: $884.50-886.50/tonne CFR Japan, up $1.00-2.00/tonne
Open-spec first-half August prices extended crude-led gains in the afternoon, but the crack spread weakened by 2.4% from 14 June to $88.03/tonne against August Brent crude futures on the back of ample supply.

BENZENE: $1,275-1,285/tonne FOB Korea, down $3/tonne at low end, up $5/tonne at the high end
Buying indications for September parcels were heard at $1,270/tonne FOB Korea. Buying indications for August parcels were also firmer at $1,275/tonne FOB Korea, while offers were limited. No deals were heard finalised at the close of business.

TOLUENE: $1,082-1,103/tonne FOB Korea, up $2-23/tonne
Prices firmed, tracking gains in crude values. August-lifting parcels were offered at $1,103-1,105/tonne FOB Korea against bids at $1,095/tonne FOB Korea, while September-loading lots were offered at $1,107/tonne FOB Korea.

ETHYLENE: $1,200-1,230/tonne CFR NE Asia, stable
Offers for July loading cargoes at $1,180-1,200/tonne FOB Taiwan were met with bids at $1,160-1,170/tonne FOB Taiwan, equivalent to $1,230/tonne CFR NE Asia and above. No deals were heard.

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

By: Staff Reporter
+44 20 8652 3214

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