EVENING SNAPSHOT: Asia Markets Summary

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

SINGAPORE (ICIS)--Here is Thursday's end-of-day Asia oil and chemical market summary from ICIS.

CRUDE: WTI Oct $107.98/bbl, up $0.75/bbl; BRENT Oct $115.46/bbl, up $0.55/bbl
Crude futures firmed on Thursday afternoon in Asia, buoyed by upbeat US economic data and a fall in US oil inventories as well as growing expectations of possible US military strikes against Syria.

NAPHTHA: $967-969/tonne CFR Japan, up $1.50-2.50/tonne
Open-spec second-half October prices inched up in tandem with global crude futures.

BENZENE: $1,303-1,308/tonne FOB Korea, down $1-2/tonne
An October cargo was booked at $1,308/tonne FOB Korea, and prior to that, a November lot was sealed at $1,310/tonne FOB Korea. Two further October parcels were heard concluded at $1,305-1,306/tonne FOB Korea and a November lot was sealed at $1,300/tonne FOB Korea, but these could not be confirmed.

: $1,140-1,147/tonne FOB Korea, up $1-2/tonne
A November parcel was transacted in the early afternoon at $1,148/tonne FOB Korea. Subsequently, November bids were at $1,147-1,150/tonne FOB Korea, with counter offers at $1,153-1,154/tonne FOB Korea. October bids gained to $1,145/tonne FOB Korea over the afternoon session from $1,140/tonne FOB Korea.

ETHYLENE: $1,260-1,280/tonne CFR NE Asia, steady
A 3,000 tonne spot cargo was heard sold into China on formula at a premium to published CFR NE Asia prices for end-September/first-half October arrival.

PROPYLENE: $1,450-1,490/tonne CFR NE Asia, stable
Discussions for first-half October shipments to Taiwan were heard at $1,475-1,490/tonne CFR Taiwan.

By: Staff Reporter
+44 20 8652 3214

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