EVENING SNAPSHOT Asia Markets Summary

16 May 2014 11:00  [Source: ICIS news]

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

CRUDE: Jun WTI $101.48/bbl, down 2 cents/bbl; Jul BRENT $109.00/bbl, down 9 cents/bbl
Crude futures were trading a few cents below the previous session’s close. Increased Libyan output eased supply worries, offsetting concerns over the unrest in Ukraine.

NAPHTHA: $946.50-948.50/tonne CFR Japan, down $10.50-11.50/tonne
Open-spec first-half July naphtha fell further as cracker operators are finding it more economical to use more liquefied petroleum gas (LPG) as partial feed amid weak LPG demand and prices.

BENZENE: $1,245-1,255/tonne FOB Korea, up $3/tonne at the low end
Offers for second-half June-loading cargoes fell to $1,250/tonne FOB Korea, while bids were at $1,245-1,248/tonne FOB Korea. For first-half June-loading parcels, bids were at $1,242-1,248/tonne FOB Korea, with no offers.

TOLUENE: $1,050-1,063/tonne FOB Korea, down $12/tonne
A second-half June cargo was negotiated at $1,050-1,060/tonne FOB Korea, while July offers slipped to $1,063/tonne FOB Korea from $1,066/tonne FOB Korea.

ETHYLENE: $1,435-1,445/tonne CFR NE Asia, stable
Selling ideas were largely at a minimum of $1,450/tonne CFR NE Asia for June-arrival cargoes.

PROPYLENE: $1,410-1,425/tonne CFR NE Asia, up $5/tonne at the high end
Spot offers June shipment were heard at above $1,420-1,430/tonne CFR NE Asia, while buying ideas were heard at $1,400-1,410/tonne CFR NE Asia. A deal for second-half June shipment was heard done at $1,425/tonne CFR China.

By: Staff Reporter
+44 20 8652 3214

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