EVENING SNAPSHOT Asia Markets Summary

30 October 2013 10:00  [Source: ICIS news]

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

CRUDE: Dec WTI $97.69/bbl, down 51 cents/bbl; Dec BRENT $109.18/bbl, up 17 cents/bbl
WTI crude futures continued to trade below the previous session’s close following a larger-than-forecast rise in US crude inventories. Brent crude values firmed amid renewed worries over a marked decline in Libyan oil exports.

NAPHTHA: $938.25-940.25/tonne CFR Japan, up $8.75-9.75/tonne
Open-spec first-half December prices rose on tightening supply and firm demand.

BENZENE: $1,230-1,258/tonne FOB Korea, up $3-5/tonne
Two more January parcels were booked at $1,210/tonne FOB Korea mid-afternoon. After which, a December cargo was sealed at $1,239/tonne FOB Korea. Subsequently, January offers were at $1,215/tonne FOB Korea, while bids were at $1,210-1,211/tonne FOB Korea.

TOLUENE: $1,092-1,098/tonne FOB Korea, down $1-3/tonne
Offer-bid levels fell in late afternoon, with January offers slipping to $1,099/tonne FOB Korea with no counter bids. December offers were at $1,098/tonne FOB Korea.

ETHYLENE: $1,400-1,420/tonne CFR NE Asia, stable
Traders continued to target sales at $1,400-1,450/tonne CFR NE Asia, versus buying ideas mainly below $1,400/tonne CFR NE Asia. No deals were heard.

PROPYLENE: $1,450-1,470/tonne CFR NE Asia, stable
Sporadic selling ideas remained at the high $1,400s/tonne CFR NE Asia, while buying ideas were capped at $1,450/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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