EVENING SNAPSHOT Asia Markets Summary

09 January 2014 10:00  [Source: ICIS news]

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

CRUDE: Feb WTI $92.63/bbl, up 30 cents/bbl; Feb BRENT $107.72/bbl, up 57 cents/bbl
Crude oil futures strengthened in afternoon trade, supported by a weaker US dollar and concerns over tensions in Libya and continued disruptions to crude supplies from the north African nation.

NAPHTHA: $970.75-972.75/tonne CFR Japan, up $5.75-6.75/tonne
Open-spec naphtha prices for second-half February rose in afternoon trading in tandem with crude futures.

BENZENE: $1,330-1,335/tonne FOB Korea, down $5/tonne
February offers were at $1,335-1,340/tonne FOB Korea, countered by bids at $1,332/tonne FOB Korea. March offers were at $1,327/tonne FOB Korea against bids at $1,310-1,315/tonne FOB Korea, which yielded two March deals at $1,315-1,318/tonne FOB Korea.

TOLUENE: $1,140-1,152/tonne FOB Korea, down $5-8/tonne
February offers fell over the afternoon session to $1,145/tonne FOB Korea from $1,154/tonne FOB Korea, while bids stood at $1,140/tonne FOB Korea. For March loading, offers have likewise declined to $1,152/tonne FOB Korea from $1,157/tonne FOB Korea, with bids hovering at $1,145-1,152/tonne FOB Korea. A fixture was settled at $1,152/tonne FOB Korea.

ETHYLENE: $1,520-1,560/tonne CFR NE Asia, stable
A 3,000- to 5,000-tonne cargo for second-half January delivery was heard sold in the high $1,400s/tonne CFR SE Asia.

PROPYLENE: $1,500-1,515/tonne CFR NE Asia, stable
Offers at up to $1,520-1,525/tonne CFR NE Asia for February shipments were countered by buying ideas at $1,500-1,510/tonne CFR NE Asia and below.

By: Staff Reporter
+44 20 8652 3214

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