EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Aug WTI $104.64/bbl, up $1.11/bbl; Aug BRENT $108.08/bbl, up 27 cents/bbl
US WTI crude futures continued to strengthen on Wednesday afternoon buoyed by industry data revealed a much larger than expected fall in US crude stocks. Brent also edged higher but upside was limited by concerns over lower Chinese crude imports and a stronger US dollar.

NAPHTHA: $911-913/tonne CFR Japan, up $7-8/tonne
Open-spec second-half August prices extended crude-driven gains in afternoon trading, rising to a new high in more than three months.

BENZENE: $1,220-1,226/tonne FOB Korea, up $2-4/tonne           
Two September lots were traded at $1,218-1,221/tonne FOB Korea, and two intermonth spread between August and September were concluded at a backwardation of $2-3/tonne on FOB Korea basis.

TOLUENE: $1,075-1,080/tonne FOB Korea, up $5/tonne
An August cargo was closed at $1,075/tonne FOB Korea, while a September parcel was sealed at $1,080/tonne FOB Korea.

ETHYLENE: $1,260-1,300/tonne CFR NE Asia, steady
No CFR NE Asia deals were located, but a 2,300-tonne spot cargo was heard sold at $1,190/tonne FOB Japan for first-half August lifting.

PROPYLENE: $1,400-1,415/tonne CFR NE Asia, down $5/tonne
Two deals were heard done at $1,405-1,410/tonne CFR NE Asia for mid- to second-half August arrival.

By: Staff Reporter
+44 20 8652 3214

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