EVENING SNAPSHOT Asia Markets Summary

07 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 $97.42/bbl, down 42 cents/bbl; Mar BRENT $107.29/bbl up 10 cents/bbl
Brent crude futures edged higher in the afternoon ahead of the release of US employment data later in the day. US crude futures continued to trade below the previous session’s close amid expectations that demand will be reduced by refinery maintenance in the second quarter.

NAPHTHA: $933.75-935.75/tonne CFR Japan, up $0.25-$1.25/tonne
Open-spec second-half March naphtha prices nudged up in afternoon trading on gains in  Brent crude futures.

BENZENE: $1,330-1,338/tonne FOB Korea, down $2-5/tonn
March offers were at close to $1,340/tonne FOB Korea, with bids hovering at $1,330-1,335/tonne FOB Korea. Two March deals were concluded at $1,335/tonne FOB Korea.

TOLUENE: $1,100-1,120/tonne FOB Korea, up $13-15/tonne
A March cargo was booked at $1,105/tonne FOB Korea in the afternoon session, with two further March deals heard done at the same price but could not be confirmed. Prior to the deals, March bids were at $1,095-1,100/tonne FOB Korea.

ETHYLENE: $1,470-1,500/tonne CFR NE Asia, down $10/tonne at low end
Buyers capped their price ideas at $1,400-1,450/tonne CFR NE Asia for end-February/early-March delivery cargoes, although some sellers had received higher indications from importers in the high-$1,400/tonne CFR NE Asia levels. Selling ideas were at $1,500/tonne CFR NE Asia.

PROPYLENE: $1,465-1,480/tonne CFR NE Asia, stable
Two first-half March arrival cargoes were sold at $1,470-1,475/tonne CFR CMP.

By Staff Reporter