EVENING SNAPSHOT: Asia Markets Summary

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

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

CRUDE: WTI Oct $108.61/bbl up $0.24/bbl; BRENT Oct $115.39/bbl up $0.13/bbl
Crude futures firmed on Friday afternoon Asia ahead of the release of US jobs data. Recent positive economic data and declines in US oil inventories continued to support the market.

NAPHTHA: $971-973/tonne CFR Japan, up $5-6/tonne
Open-spec second-half October prices rebounded in afternoon trading, following a cash trade at $970/tonne for the first-half November contract. The market was buoyed by reduced arbitrage flows for October deliveries.

: $1,305-1,310/tonne FOB Korea, down $2/tonne
A November cargo was booked at $1,305/tonne FOB Korea. Prior to that, November offers at $1,308-1,315/tonne FOB Korea were countered with bids at $1,300-1,307/tonne FOB Korea. October bids were at $1,302-1,307/tonne FOB Korea but attracted no sellers.

TOLUENE: $1,155-1,160/tonne FOB Korea, up $10/tonne
Bids for November loading gained to $1,160-1,163/tonne FOB Korea during open market trading . An early November offer at $1,160/tonne FOB Korea was then withdrawn. October bids likewise gained to $1,157/tonne FOB Korea from $1,153/tonne FOB Korea, but no sellers were present.

ETHYLENE: $1,260-1,280/tonne CFR NE Asia, steady
A stalemate hampered discussions and no fresh deals were located on Friday. Selling indications at $1,300/tonne CFR NE Asia were still met with buying ideas at the mid-to-high $1,200s/tonne CFR NE Asia for October arrival.

PROPYLENE: $1,450-1,490/tonne CFR NE Asia, stable
A second-half October shipment was heard traded into China at $1,485/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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