EVENING SNAPSHOT Asia Markets Summary

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

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

CRUDE: Oct WTI $107.66/bbl, down 94 cents/bbl; Oct BRENT $112.27/bbl, up 36 cents/bbl
Crude futures declined in afternoon trade amid easing Syria tensions and uncertainty over whether the US Federal Reserve will decide to taper down its monetary stimulus programme when it meets next week.

NAPHTHA: $956-958/tonne CFR Japan, down $2-3/tonne
Open-spec second-half October prices were softer in afternoon trading, tracking lower crude futures.

BENZENE: $1,308-1,316/tonne FOB Korea, down $2-5/tonne
A November lot was booked at $1,314/tonne FOB Korea in the afternoon session. Towards the end of trading, two more November deals were concluded at $1,309-1,310/tonne FOB Korea.

TOLUENE: $1,150-1,167/tonne FOB Korea, down $5/tonne at the low end
Offers for November and December were at $1,167/tonne FOB Korea, with bids at $1,158-1,160/tonne FOB Korea. Towards the close of trade, a November lot was booked at $1,160/tonne FOB Korea.

ETHYLENE: $1,270-1,300/tonne CFR NE Asia, stable
A lack of spot cargoes amid ongoing and upcoming cracker turnarounds hindered discussions. Selling ideas mostly remained at above $1,300/tonne CFR NE Asia while buying interest was capped at the high-$1,200/tonne to $1,300/tonne CFR NE Asia levels for October arrival, depending on the derivative sector.

PROPYLENE: $1,450-1,475/tonne CFR NE Asia, down $10-15/tonne
Deals for mid- to second-half October shipments were done at $1,450-1,465/tonne CFR CMP.


By: Staff Reporter
+44 20 8652 3214



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