EVENING SNAPSHOT Asia Markets Summary

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

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

CRUDE: Sept WTI $106.40/bbl, down 54 cents/bbl; Sept BRENT $108.32/bbl, down 63 cents/bbl
Crude futures weakened in afternoon trading in Asia, giving back gains made during the morning. Prices declined amid demand worries following disappointing US employment data, and hopes for improved relations between Tehran and Washington following the inauguration of a new Iranian president.

NAPHTHA: $911-913/tonne CFR Japan, up $9-10/tonne
Open-spec second-half September prices rose in afternoon trading as the first-half October contract traded three times at $910/tonne CFR Japan.

BENZENE: $1,235-1,240/tonne FOB Korea, flat
Discussions for September loading hovered at $1,235-1,240/tonne FOB Korea, but subsequently, players took to the sidelines after energy slipped. For October, offers hovered at $1,234-1,240/tonne FOB Korea that were countered with bids at $1,225-1,232/tonne FOB Korea. After open market trading, offers for October fell to $1,234-1,237/tonne FOB Korea, against bids at $1,230/tonne FOB Korea.

TOLUENE: $1,135-1,150/tonne Fob Korea, down $2-5/tonne
For second-half August, an offer was quoted at $1,142/tonne FOB Korea that were countered with bids at $1,110/tonne FOB Korea. Offers for October loading were at $1,150-1,155/tonne FOB Korea, against bids at $1,135-1,145/tonne FOB Korea. For September cargoes, discussions were at $1,145-1,150/tonne FOB Korea.

ETHYLENE: $1,200-1,250/tonne CFR NE Asia, stable
No CFR NE Asia deals were heard. A tender to buy a 3,000- to 5,000-tonne spot cargo for first-half September arrival into Indonesia was issued on Monday, and is expected to close on 7 August.

PROPYLENE: $1,410-1,420/tonne CFR NE Asia, up $10/tonne at the low end
Selling indications were heard at the low-$1,400/tonne CFR NE Asia levels, while buying ideas were capped at $1,410-1,415/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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