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EVENING SNAPSHOT - Asia Markets Summary
ICIS News : 5-Feb-13 10:10
SINGAPORE (ICIS)--Here is Tuesday’s end-of-day Asia oil and chemical markets summary.
CRUDE: Mar WTI $96.38/bbl, up 21 cents/bbl; Mar BRENT $115.53/bbl, down 7 cents/bbl
Brent crude oil futures were lower in the afternoon on fresh worries about the eurozone and a stronger US dollar.
NAPHTHA: $1,005.00-1,007.00/tonne CFR Japan, up $1.50-2.50/tonne
Open-spec second-half March contract rebounded after Statoil sold the second-half March/second-half April spread to BP at $29.50/tonne in backwardation.
BENZENE: $1,407-1,413/tonne, up $8-12/tonne
Bids for March loading edged higher to $1,395-1,407/tonne FOB Korea, while bids for April were at $1,380-1,395/tonne FOB Korea. Sellers were largely absent. A fixture was closed at $1,433/tonne CFR Taiwan for second-half February or first-half March loading.
TOLUENE: $1,295-$1,303/tonne FOB Korea, up $5/tonne at the low end
Discussions were sporadic in the afternoon session, with bids for April loading at $1,300-1,305/tonne FOB Korea.
ETHYLENE: $1,380-1,410/tonne CFR NE Asia, stable
No CFR trades were heard, but a 2,300-tonne spot cargo for March loading was sold at $1,330/tonne FOB Japan.
PROPYLENE: $1,350-1,380/tonne CFR NE Asia, up $10-20/tonne
Selling ideas were heard at close to $1,400/tonne CFR NE Asia, but buying ideas were capped at the mid-to-high-$1,300/tonne CFR NE Asia levels.
By Staff Reporter
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