Asia top stories – weekly summary
ICIS Editorial
18-Sep-2023
SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 15 September 2023.
Oil prices hit highest since Nov ‘22 on China
recovery hopes
By Nurluqman Suratman 15-Sep-23 12:11 SINGAPORE
(ICIS)–Upbeat August data on China’s
industrial production and consumer spending
accompanied by cuts in banks’ reserve
requirement on Friday sent crude prices soaring
to their highest level since November 2022.
East, south Asia LAB markets extend gains on
firm buying momentum
By Clive Ong 14-Sep-23 11:43 SINGAPORE
(ICIS)–The linear alkylbenzene (LAB) markets
in sast and south Asia gained further ground
this week, building on the positive momentum
which started in August.
India MEC spikes on tight supply; Mideast, East
Med seek alternative sources
By Keven Zhang 13-Sep-23 13:46 SINGAPORE
(ICIS)–Output cuts have tightened India’s
methylene chloride (MEC) supply causing
domestic prices to spike, with buyers in the
Middle East as well as the East Mediterranean
region currently scrambling to source cargoes
elsewhere.
INSIGHT: China benzene to see further support
from firm crude, strong
demand
By Yoyo Liu 14-Sep-23 18:20 SINGAPORE
(ICIS)–The market is expected to gain further
steam from bullish crude and brisk demand in
the near term, after surging in July-August
supported by the crude price upswing,
decreasing port inventories and recovered
demand.
Asia naphtha demand may weaken amid high
prices, inflows of arbitrage
cargoes
By Li Peng Seng 12-Sep-23 11:37 SINGAPORE
(ICIS)–Asia’s naphtha demand could be affected
by unrelenting high prices in the short-term,
especially while this is happening when
increases in arbitrage cargoes arriving from
the west, including Europe and the
Mediterranean, have been seen.
Oil markets ease on China slowdown; Brent stays
above $90/bbl
By Nurluqman Suratman 11-Sep-23 13:21 SINGAPORE
(ICIS)–Oil prices eased on Monday as concerns
over China’s economic woes continue to weigh on
sentiment, but Brent crude stayed above the
$90/bbl mark on tighter global supplies.
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