EVENING SNAPSHOT Asia Markets Summary

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

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

CRUDE: Jan WTI $92.51/bbl, up 21 cents/bbl; Jan BRENT $110.92bbl, up 6 cents/bbl
Brent crude futures were trading a few cents above the previous session’s close. Crude values were supported by supply concerns generated by Libyan tensions, which countered downward pressure generated by further progress in resolving the Iran nuclear issue. There was no settlement on the NYMEX WTI contract on Thursday because of the Thanksgiving public holiday. Therefore the price movement was computed against Wednesday’s settlement.

NAPHTHA: $969.00-971.00/tonne CFR Japan, up $4.25-5.25/tonne
Open-spec first-half January prices rose, following a second-half January trade at $966.00/tonne CFR Japan.

BENZENE: $1,308-1,343/tonne FOB Korea, down $7/tonne at the low end
Discussions softened in the afternoon session on quiet trade. January negotiations fell to $1,308-1,320/tonne FOB Korea. For February loading parcels, offers were at $1,303-1,305/tonne against bids at $1,290-1,293/tonne FOB Korea.

TOLUENE: $1,167-1,180/tonne FOB Korea, down $4/tonne at the high end
Discussions were active for January-lifting cargoes, with offers at $1,180-1,185/tonne FOB Korea meeting bids at $1,170-1,175/tonne FOB Korea. February-loading parcels were offered at $1,200/tonne FOB Korea against bids at $1,178/tonne FOB Korea. Meanwhile, second-half December shipment parcels were offered at $1,170/tonne FOB Korea.

ETHYLENE: $1,380-1,400/tonne CFR NE Asia, up $10-15/tonne
A 3,500-tonne cargo for end-December arrival was heard sold at $1,395/tonne CFR NE Asia.

PROPYLENE: $1,470-1,480/tonne CFR NE Asia, up $5/tonne at the high end
A second-half December arrival cargo was traded at $1,480/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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