NOON SNAPSHOT Asia Markets Summary

05 August 2014 05:00 Source:ICIS News

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

CRUDE: Sept WTI $98.41/bbl, up 12 cents/bbl; Sept BRENT $105.55/bbl up 14 cents/bbl
Crude was trading slightly firmer, extending gains made in the previous session. Prices were supported by supply worries generated by ongoing violence in Libya and Iraq.

NAPHTHA$933.00-936.00/tonne CFR Japan, up $1.50-2.50/tonne
Opec-spec second-half September naphtha firmed up in tandem with crude values.

BENZENE: $1,285-1,290/tonne FOB Korea, down $25-30/tonne
Prices settled at a two-month low, depressed by hefty overnight losses in Europe and US markets. September offers were at $1,294-1,299/tonne FOB Korea, while for second-half September offers stood at $1,290-1,295/tonne FOB Korea, with no firm counter bids.

TOLUENE: $1,135-1,147/tonne FOB Korea, down $10-13/tonne
October offer-bid levels narrowed to $1,145-1,148/tonne FOB Korea in mid-morning from $1,140-1,155/tonne. September offers fell to $1,150/tonne FOB Korea from $1,155/tonne FOB Korea.

ETHYLENE: $1,560-1,570/tonne CFR NE Asia, stable
Buyers sought prices in the low- to mid-$1,500/tonne CFR NE Asia levels for end-August and first-half September arrival cargoes.

PROPYLENE: $1,450-1,460/tonne CFR NE Asia, stable
Buying ideas of importers in China were largely at below $1,450/tonne CFR CMP amid expectations that the reduced consumption in Taiwan could cause the regional supply to increase.

By Staff Reporter