EVENING SNAPSHOT Asia Markets Summary

14 February 2014 10:00  [Source: ICIS news]

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

CRUDE: Mar WTI $99.93/bbl, down 42 cents/bbl; Apr BRENT $108.32/bbl, down 20 cents/bbl
Crude futures softened in afternoon trading amid concerns over downbeat US economic data. However, downside pressure was limited by concerns over disruptions to oil production from Libya and Angola.

NAPHTHA: $928-930/tonne CFR Japan, down $1-2/tonne
Open-spec second-half March naphtha pulled back from earlier gains because of weaker crude futures.

BENZENE: $1,307-1,313/tonne FOB Korea, down $3/tonne
April offers fell in the afternoon to $1,282/tonne FOB Korea, yielding two April deals at $1,281-1,282/tonne FOB Korea. Second-half March offers stood at $1,313-1,315/tonne FOB Korea, with no keen buyers. A May cargo was booked at $1,272/tonne FOB Korea.

TOLUENE: $1,105-1,120/tonne FOB Korea, up $5/tonne at the high end
Two April cargoes were sealed at $1,120/tonne FOB Korea, before April offers started to slip to $1,117/tonne FOB Korea. Second-half March offers were quoted at $1,118-1,120/tonne FOB Korea, with no keen bids.

ETHYLENE: $1,460-1,480/tonne CFR NE Asia, stable
A 3,500-tonne parcel for end-February delivery was booked at $1,470/tonne CFR NE Asia.

PROPYLENE: $1,475-1,490/tonne CFR NE Asia, unchanged
A deal was done at $1,475/tonne CFR CMP for first-half March loading.


By: Staff Reporter
+44 20 8652 3214



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