EVENING SNAPSHOT Asia Markets Summary

14 April 2014 11:00 Source:ICIS News

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

CRUDE: May WTI $104.28/bbl, up $0.54/bbl; May BRENT $108.16/bbl up $0.83/bbl
Crude futures strengthened on Monday afternoon amid growing concerns over heightened tensions between Russia and Ukraine amid a standoff between government forces and pro-Moscow separatists in eastern Ukraine.

NAPHTHA: $960.50-962.50/tonne CFR Japan, up $5.50-6.50/tonne
Open-spec second-half May naphtha rose further in afternoon trade amid stable Brent crude futures.

BENZENE: $1,295-1,310/tonne FOB Korea, down $1/tonne at the low end, up $10/tonne at the high end
A July cargo was traded at $1,247/tonne FOB Korea in the afternoon session. For first-half May, discussions were at $1,300-1,330/tonne FOB Korea in the late afternoon. June offers were at $1,265-1,270/tonne FOB Korea, against bids at $1,260/tonne FOB Korea.

TOLUENE: $1,062-1,282/tonne FOB Korea, down $2-3/tonne
June discussions narrowed to $1,078-1,082/tonne FOB Korea. Second-half May offers were at $1,069-1,070/tonne FOB Korea, against bids at $1,062/tonne FOB Korea.

ETHYLENE: $1,430-1,450/tonne CFR NE Asia, stable
Discussions were subdued as participants preferred to wait for a clear price direction from the downstream markets. Sellers targeted prices at $1,450/tonne CFR China for May delivery cargoes, while buying ideas were capped in the low $1,400s/tonne CFR China.

PROPYLENE: $1,400-1,410/tonne CFR NE Asia, stable
Buying ideas were largely capped at around $1,400/tonne CFR CMP for May-arrival cargoes. Sellers targeted prices at $1,420-1,430/tonne CFR CMP.

By Staff Reporter