EVENING SNAPSHOT Asia Markets Summary

05 July 2013 11:00  [Source: ICIS news]

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

CRUDE: Aug WTI $101.10/bbl, down 14 cents/bbl; Aug BRENT $105.80/bbl, up 26 cents/bbl
Crude futures were mixed in the afternoon session as investors await a key US jobs data to be released later on Friday on cues on demand from the world’s top oil consumer.

NAPHTHA:  $889-891/tonne CFR Japan, up $7-8/tonne
Open-spec second-half August prices rose in afternoon trading on crude gains. The first-half September contract traded at $887/tonne and the second-half August/second-half September spread traded at a backwardation of $5.50/tonne.

BENZENE: $1,192-1,197/tonne FOB Korea, up $4-5/tonne
A September cargo was settled at $1,195/tonne FOB Korea, with an intermonth spread between August and September concluded at parity.

TOLUENE: $1,050-1,060/tonne FOB Korea, down $3/tonne
Offer-bid levels fell in early afternoon to $1,050-1,056/tonne FOB Korea for September parcel, but rebounded to $1,058-1,065/tonne FOB Korea towards the end of the trading day.

ETHYLENE: $1,260-1,280/tonne CFR NE Asia, steady
Selling indications for August arrival were mostly maintained at close to $1,300/tonne CFR NE Asia, while talk of a southeast Asia parcel available for July arrival could not be confirmed.

PROPYLENE: $1,410-1,425/tonne CFR NE Asia, down $5/tonne at the high end
Selling indications and discussions for August were heard at below $1,430/tonne CFR NE Asia into the leading China spot market for any August arrival.

By: Staff Reporter
+44 20 8652 3214

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