EVENING SNAPSHOT Asia Markets Summary

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

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

CRUDE: Dec WTI $97.33/bbl, up 22 cents/bbl; Dec BRENT $106.69/bbl, down 30 cents/bbl
Brent crude futures softened in late afternoon trade, while WTI some maintained some upside. Prices were weighed down by a stronger US dollar and concerns over increased supply and muted demand, particularly in the US.

NAPHTHA: $916.75-918.75/tonne CFR Japan, up $4.50-5.50/tonne
Open-spec first-half December prices edged higher following a physical trade at a backwardation of $4/tonne for the second-half December/first-half January contracts.

BENZENE: $1,235-1,265/tonne FOB Korea, down $10-20/tonne
Five January cargoes were booked at $1,222-1,225/tonne FOB Korea. Subsequently, January offers were quoted at $1,227-1,235/tonne FOB Korea, against bids at $1,215-1,223/tonne FOB Korea. Prior to open market trading, December offers were at $1,255-1,270/tonne FOB Korea, countered with bids at $1,230-1,240/tonne FOB Korea.

TOLUENE: $1,087-1,100/tonne FOB Korea, down $8-10/tonne
Second-half November offer were at $1,110/tonne FOB Korea, with no counter bid. For December loading, offers were at $1,099-1,110/tonne FOB Korea against bids at $1,090-1,102/tonne FOB Korea, in which offer-bid levels declined over the late afternoon. January was discussed at $1,095-1,102/tonne FOB Korea.

ETHYLENE: $1,400-1,420/tonne CFR NE Asia, stable
No CFR NE Asia deals were heard. A 9,000-tonne spot cargo of US origin was heard sold into southeast Asia on a floating basis for mid-December arrival but this could not be immediately confirmed.

PROPYLENE: $1,440-1,470/tonne CFR NE Asia, down $5-15/tonne
Second-half November and early-December delivery cargoes were sold into China at $1,440-1,470/tonne CFR NE Asia.


By: Staff Reporter
+44 20 8652 3214



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