NOON SNAPSHOT Asia Markets Summary

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

SINGAPORE (ICIS)--Here is Tuesday’s midday Asia oil and chemical markets summary.

CRUDE: Sept WTI $106.18/bbl, up 7 cents/bbl; Sept BRENT $108.99/bbl, up 2 cents/bbl
Crude future edged a few cents higher in Asian morning trade. Crude had gained ground in the previous session, buoyed by disruptions to Libyan crude supplies.

NAPHTHA: $918.75-921.75/tonne CFR Japan, up $9.50-10.50/tonne
Open-spec second-half prices rose on the back of overnight gains in Brent crude futures.

BENZENE: $1,242-1,250/tonne FOB Korea, up $9-12/tonne
Prices were firmer in the morning, with US crude futures trading above $106/bbl. Two October deals were heard concluded at $1,243-1,245/tonne FOB Korea, while a November fixture emerged at $1,240/tonne FOB Korea.

TOLUENE: $1,120-1,138/tonne FOB Korea, up $6/tonne at the high end
Offers for second-half September-loading parcels firmed from the previous day’s close by $6/tonne to $1,138/tonne FOB Korea, though buying interest was lukewarm. Bids for October-lifting cargoes were at $1,135/tonne FOB Korea.

ETHYLENE: $1,220-1,250/tonne CFR NE Asia, stable
Buying ideas remained mostly capped at the low-$1,200s/tonne CFR NE Asia while no fresh deals were located.

PROPYLENE: $1,420-1,435/tonne CFR NE Asia, stable
Sellers have maintained their price ideas at a minimum of $1,440/tonne CFR NE Asia for September cargoes despite weak buying interest. Spot demand in China was dampened by the weak performance of the downstream polypropylene (PP) sector.

By: Staff Reporter
+44 20 8652 3214

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