EVENING SNAPSHOT - Asia Markets Summary

31 December 2013 10:00 Source:ICIS News

SINGAPORE (ICIS)--Here is Tuesday’s end-of-day Asia oil and chemical market summary from ICIS.

CRUDE: Feb WTI $99.20/bbl, down 9 cents; Feb BRENT $111.21/bbl, unchanged
Crude oil futures continued to trade within a narrow band and were little changed to the previous session closing levels. Crude prices had softened on 30 December amid reports of increased Libya oil production.

NAPHTHA: $997.00-999.00/tonne CFR Japan, down $0.50/tonne
Open-spec naphtha prices for first-half February edged lower on Tuesday afternoon in thin trade ahead of a public holiday.

BENZENE: $1,347-1,355/tonne FOB Korea, stable
March offers were at $1,340/tonne FOB Korea in the afternoon session, while February discussions were at $1,345-1,350/tonne FOB Korea.

TOLUENE: $1,160-1,175/tonne FOB Korea, up $10/tonne low end
Second-half January offers were at $1,173-1,175/tonne FOB Korea, countered by bids at $1,155-1,160/tonne FOB Korea.

ETHYLENE: $1,480-1,510/tonne CFR NE Asia, stable
Selling ideas heard at up to the high $1,500s/tonne to $1,600/tonne CFR NE Asia for January shipments were unworkable for buyers. Buying ideas were largely capped in the high $1,400s/tonne to $1,500/tonne CFR NE Asia.

PROPYLENE: $1,495-1,510/tonne CFR NE Asia, up $5/tonne
Buying ideas were at $1,480-1,500/tonne CFR China Main Port (CMP) for end-January and February shipments, against selling ideas at $1,510-1,520/tonne CFR CMP.

By Staff Reporter