EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Aug WTI $94.77/bbl, down 55 cents/bbl; Aug BRENT $101.07/bbl, down 19 cents/bbl
Crude futures continued to trade below the previous session’s close, on concerns over the Chinese economy and expectations that the US Federal Reserve may start to wind down its stimulus programme later this year.

NAPHTHA: $855.25-857.25/tonne CFR Japan, up $6-7/tonne
Open-spec first-half August prices reversed losses in afternoon trading, following a physical deal at $853/tonne for the second-half August contract.

BENZENE: $1,200-1,215/tonne FOB Korea, down $15/tonne
Following deals at $1,220/tonne FOB Korea for September and $1,222/tonne FOB Korea for August, another September deal was concluded lower at $1,208/tonne FOB Korea late in the day.

TOLUENE: $1,035-1,045/tonne FOB Korea, down $8/tonne at the high end
Sellers cut offers to boost buying interest. Offers for September-loading parcels were at $1,043-1,058/tonne FOB Korea, meeting bids at $1,040/tonne FOB Korea. For August-loading cargoes, offers were at $1,045/tonne FOB Korea against $1,040/tonne FOB Korea.

ETHYLENE: $1,250-1,280/tonne CFR NE Asia, stable
Selling ideas were heard at close to $1,300/tonne CFR NE Asia on the back of limited supply from Asia and the Middle East, while sporadic buying interest was maintained at $1,250-1,260/tonne CFR NE Asia.

PROPYLENE: $1,420-1,435/tonne CFR NE Asia, unchanged
A regional Japanese spot cargo was heard sold at $1,435/tonne CFR China for end-July arrival.

By: Staff Reporter
+44 20 8652 3214

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