NOON SNAPSHOT: Asia Markets Summary

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

SINGAPORE (ICIS)--Here is Friday’s midday Asia oil and chemical market summary from ICIS.

CRUDE: WTI Oct $107.65/bbl down $1.15/bbl; BRENT Oct $114.23/bbl down $0.93/bbl
Crude futures prices continued to decline off peaks hit earlier in the week. Prices retreated amid an easing of supply concerns after the UK parliament voted against possible military action against Syria.

NAPHTHA: $957.75-960.75/tonne CFR Japan, down $12-13/tonne
Open-spec first-half October prices fell in tandem with crude futures.

BENZENE: $1,260-1,275/tonne FOB Korea, down $5-10/tonne
Bid levels for October loading rose over the morning session to $1,265/tonne FOB Korea from $1,262/tonne FOB Korea, while offers fell to $1,275/tonne FOB Korea from $1,278/tonne FOB Korea. November bids also inched up to $1,267/tonne FOB Korea, from $1,262/tonne FOB Korea, with an earlier offer at $1,268/tonne FOB Korea.

TOLUENE: $1,125-1,135/tonne FOB Korea, down $5/tonne
October bids were at $1,125-1,130/tonne FOB Korea before slipping to $1,128/tonne FOB Korea, with an offer at $1,135/tonne FOB Korea. November offers were at $1,138-1,140/tonne FOB Korea, against bids at $1,125-1,132/tonne FOB Korea. A December offer stood at $1,140/tonne FOB Korea with no counter bids. For second-half September-October swap, a bid was quoted at a contango of $2/tonne in absence of keen buyers.

ETHYLENE:  $1,260-1,280/tonne CFR NE Asia, steady
No fresh deals were heard as selling indications at close to $1,300/tonne CFR NE Asia failed to attract interest from end-users.

PROPYLENE: $1,450-1,480/tonne CFR NE Asia, up by $5-15/tonne
A few deals were heard done at $1,480-1,485/tonne CFR NE Asia for second-half September delivery cargoes.

By: Staff Reporter
+44 20 8652 3214

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