NOON SNAPSHOT Asia Markets Summary

14 July 2014 05:00 Source:ICIS News

SINGAPORE (ICIS)--Here is Monday midday Asia oil and chemical markets summary.

CRUDE: Aug WTI $100.74/bbl, down 9 cents/bbl; Aug BRENT $106.87/bbl, up 21 cents/bbl
Brent crude futures gained some ground amid reports of further unrest in Libya and violence in Gaza. WTI edged a few cents lower as upside pressure was offset by a stronger US dollar.

NAPHTHA: $962.50-965.50/tonne CFR Japan, down $9.50-10.50/tonne
Open-spec second-half August naphtha fell on Monday morning owing to crude losses.

BENZENE: $1,350-1,375/tonne FOB Korea, down $10-15/tonne
Prices fell in line with a softer US benzene market overnight. Second-half August bids were at $1,345-1,350/tonne FOB Korea. For second-half August- September swaps, offers were at a backwardation of $40/tonne against bids at $20-25/tonne.

TOLUENE: $1,165-1,174/tonne FOB Korea, unchanged
Discussions for September shipments were the only ones heard in the morning session, with bids at $1,165/tonne FOB Korea against offers at $1,170/tonne FOB Korea.

ETHYLENE: $1,520-1,550/tonne CFR NE Asia, stable
Buying ideas remained capped in the low $1,500s/tonne CFR NE Asia on downstream affordability concerns. Firm offers were scarce.

PROPYLENE: $1,450-1,465/tonne CFR NE Asia, unchanged
Discussions were slow to start, while buying and selling indications were unchanged.

By Staff Reporter