NOON SNAPSHOT Asia Markets Summary

21 March 2014 04:00 Source:ICIS News

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

CRUDE: May WTI $98.49/bbl, down 41 cents/bbl; May BRENT $106.18/bbl, down 27 cents/bbl
Crude futures were trading lower, undermined by a stronger US dollar that offset the impact of upbeat US employment data issued overnight.

NAPHTHA: $932.00-935.00/tonne CFR Japan, up $3.50-4.50/tonne
Open-spec first-half May prices were notionally assessed higher, supported by firmer naphtha crack values.

BENZENE: $1,235-1,258/tonne FOB Korea, up $8/tonne
May and June numbers opened higher, in line with higher prices in the downstream styrene monomer market. May discussions narrowed to $1,235-1,243/tonne FOB Korea from $1,234-1,245/tonne FOB Korea.

TOLUENE: $1,025-1,045/tonne FOB Korea, down $2/tonne on low end, up $5/tonne at the high end
Discussions were thin in early trade. May bids were at $1,035/tonne FOB Korea. June offers were higher at $1,060/tonne FOB Korea, buoyed by the firmer Chinese domestic numbers.

ETHYLENE: $1,460-1,480/tonne CFR NE Asia, stable
Buy-sell discussions were unchanged in quiet trade. Buyers sought prices in the low-mid $1,400/tonne CFR NE Asia levels, while selling ideas were mainly at $1,470-1,480/tonne CFR NE Asia for April delivery.

PROPYLENE: $1,400-1,410/tonne CFR NE Asia, down $5/tonne at the low end
Buying ideas at $1,400-1,405/tonne CFR CMP for second-half April shipments were countered by selling ideas at $1,410-1,415/tonne CFR CMP.

By Staff Reporter