EVENING SNAPSHOT Asia Markets Summary

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

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

CRUDE: Sept WTI $104.68/bbl, down 81 cents/bbl; Sept BRENT $107.15/bbl, down 50 cents/bbl
Crude futures weakened in the afternoon trade amid demand concerns following the release weak economic data from China.

NAPHTHA: $898.00-900.00/tonne CFR Japan, up 50 cents at the low end; down 50 cents at the high end
Open-spec first-half September prices traded at a tighter range on lower crude futures.

BENZENE: $1,232-1,238/tonne FOB Korea, down $2/tonne
An intermonth spread between September and October was closed at a backwardation of $5/tonne, while a spread deal between second-half August and September was settled at parity.

TOLUENE: $1,110-1,120/tonne FOB Korea, down $10-15/tonne
Offers for October loading were at $1,125/tonne FOB Korea, against bids at $1,120/tonne FOB Korea.

ETHYLENE: $1,230-1,250/tonne CFR NE Asia, stable
Buying interest remained capped at the low- to mid-$1,200/tonne CFR NE Asia levels for August arrival, while some traders preferred to sell ethylene on a formula basis.

PROPYLENE: $1,390-1,400/tonne CFR NE Asia, steady
Bids and buying ideas were at $1,390-1,395/tonne CFR China for end-August and first-half September delivery cargoes, versus selling ideas at $1,395-1,410/tonne CFR China.

By: Staff Reporter
+44 20 8652 3214

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