SINGAPORE (ICIS)--Here is Monday’s midday Asia oil and chemical markets summary.
CRUDE: July WTI $107.34/bbl, up 43 cents/bbl; Aug BRENT $113.02/bbl, up 56 cents/bbl
Crude futures extended the gains seen in the previous week on lingering concerns over escalating violence in Iraq and its potential impact on oil supplies.
NAPHTHA: $985.50-988.50/tonne CFR Japan, down 50 cents at the low end and up 50 cents at the high end
Open-spec second-half July naphtha rose at the upper range in tandem with crude futures.
BENZENE: $1,323-1,345/tonne FOB Korea, down $7/tonne at the low end and up $5/tonne at the high end
August loading offers fell to $1,330/tonne FOB Korea from $1,335/tonne FOB Korea, while bids were at $1,323-1,325/tonne FOB Korea.
TOLUENE: $1,125-1,140/tonne FOB Korea, up $2-10/tonne
An August bid of $1,125/tonne FOB Korea met an offer at $1,140/tonne FOB Korea, with the bid eventually rising to $1,132/tonne FOB Korea. July bids increased gradually to $1,125/tonne FOB Korea from $1,112/tonne FOB Korea, with no July offers heard.
ETHYLENE: $1,440-1,455/tonne CFR NE Asia, stable
Offers were heard at $1,455-1,470/tonne CFR NE Asia while buying ideas were at around $1,440/tonne CFR NE Asia or below.
PROPYLENE: $1,420-1,430/tonne CFR NE Asia, unchanged
Buy-sell indications were heard at $1,420/tonne CFR CMP against $1,430/tonne CFR CMP amid subdued negotiations.