EVENING SNAPSHOT Asia Markets Summary

02 October 2013 11:00  [Source: ICIS news]

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

CRUDE: Nov WTI $101.73/bbl, down 31 cents/bbl; Nov BRENT $107.78/bbl, down 16 cents/bbl
Crude futures continued to trade below the previous session’s close in the afternoon, undermined by demand worries following the partial shutdown of US government services. The shutdown started on 1 October as a result of the political standoff over the US budget.

NAPHTHA: $893.50-895.50/tonne CFR Japan, down 25-75 cents
Open-spec second-half November prices remained soft in tandem with global crude futures.

BENZENE: $1,270-1,284/tonne FOB Korea, up $2-9/tonne
Offer levels gained in the afternoon session, while bid levels edged up slightly, widening the offer-bid levels. Second-half October bids were at $1,272/tonne FOB Korea with no counter offers. November bids hovered at $1,270-1,273/tonne FOB Korea amid no keen sellers. December offers were at $1,277-1,280/tonne FOB Korea, against bids at $1,270-1,272/tonne FOB Korea. An offer for January was quoted at $1,275/tonne FOB Korea.

TOLUENE: $1,118-1,128/tonne FOB Korea, up $1-3/tonne
November bids stood at $1,122-1,123/tonne FOB Korea, with no counter offers. December offer-bid levels continued to inch up towards the close of trade to $1,128-1,132/tonne FOB Korea from $1,125-1,130/tonne FOB Korea. After 9:30 GMT, December discussions were at $1,130-1,135/tonne FOB Korea.

ETHYLENE: $1,370-1,420/tonne CFR NE Asia, steady
No CFR NE Asia deals were heard, while preliminary discussions to buy FOB NE Asia cargoes were underway for November shipments. Selling indications were at least at $1,300/tonne FOB Japan, market sources said.

PROPYLENE: $1,440-1,455/tonne CFR NE Asia, stable
Selling ideas were at $1,450-1,460/tonne CFR NE Asia for first-half November arrival cargoes, against buying ideas at below $1,450/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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