EVENING SNAPSHOT Asia Markets Summary

21 March 2014 10:00 Source:ICIS News

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

CRUDE: May WTI $99.08/bbl, up 18 cents/bbl; May BRENT $106.93/bbl, up 48 cents/bbl
Crude futures strengthened in the evening amid supply concerns following news of further US sanctions against Russia, the second largest global oil exporter.

NAPHTHA: $935.00-937.00/tonne CFR Japan, up $3.00-2.00/tonne
Open-spec first-half May prices edged higher amid firmer crude and following two trades for second half May loading cargoes at a stronger price of $929.00/tonne CFR Japan.

BENZENE: $1,242-1,260/tonne FOB Korea, up $2-7/tonne           
April-May is notionally assessed as a backwardation of $15-18/tonne. June bids were at $1,213-1,217/tonne FOB Korea.

TOLUENE: $1,030-1,050/tonne FOB Korea, up $5/tonne
A May fixture was done at $1,050/tonne FOB Korea, after which May discussions widened to  $1,043-1,052/tonne FOB Korea. For June loading, a deal was heard at $1,053-1,055/tonne FOB Korea, but this could not be confirmed.

ETHYLENE: $1,460-1,480/tonne CFR NE Asia, stable
In an ongoing discussion, a selling idea at $1,480/tonne CFR NE Asia for mid- to second-half April arrival was countered by a buying idea at $1,450/tonne CFR NE Asia.

PROPYLENE: $1,380-1,400/tonne CFR NE Asia, down $10-20/tonne
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