EVENING SNAPSHOT: Asia Markets Summary

06 November 2013 10:00  [Source: ICIS news]

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

CRUDE: Dec WTI $94.18/bbl, up $0.81/bbl; Dec BRENT $106.27/bbl, up $0.94/bbl
Crude prices continued to firm on Wednesday afternoon amid a weaker US dollar and concerns over reduced exports from Libya. Prices were also buoyed  by a smaller than expected build in US crude stocks revealed in weekly industry data.

NAPHTHA: $931-934/tonne CFR Japan, down $5.75/tonne
Open-spec second-half December prices fell despite rising crude futures on concerns of softening downstream demand.

BENZENE: $1,230-1,232/tonne FOB Korea, up $7/tonne at the low end, down $1/tonne at the high end
A second December fixture was settled at $1,231/tonne FOB Korea in the afternoon session. Earlier, a January cargo was booked at $1,209/tonne FOB Korea. December offers rose towards the end of the trading day to $1,238-1,240/tonne FOB Korea.Second-half December bids were at $1,228/tonne FOB Korea during open market trading. January bids hovered at $1,205-1,208/tonne FOB Korea, while offers were at $1,210-1,215/tonne FOB Korea. For February, offers were at $1,212/tonne FOB Korea.

TOLUENE: $1,115-1,120/tonne FOB Korea up $5/tonne
Following open market trading, bid levels for January gained to $1,120/tonne FOB Korea from $1,114/tonne FOB Korea, while earlier offers were at $1,119-1,120/tonne FOB Korea. Discussions for the December-January spread narrowed to a contango of $3-5/tonne. Earlier, December bids were at $1,110/tonne FOB Korea, while February bids were at $1,115/tonne FOB Korea.

ETHYLENE: $1,390-1,410/tonne CFR NE Asia, stable
A 3,500 tonne cargo for December delivery was heard sold at $1,405/tonne CFR NE Asia. 

PROPYLENE: $1,475-1,485/tonne CFR NE Asia, up by $5/tonne
Two first-half December shipments were sold at $1,475/tonne CFR China and $1,485/tonne CFR China.

By: Staff Reporter
+44 20 8652 3214

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