EVENING SNAPSHOT Asia Markets Summary

04 February 2014 10:00 Source:ICIS News

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

CRUDE: Mar WTI $96.82/bbl, up 39 cents/bbl; Mar BRENT $105.94/bbl down 10 cents/bbl
US crude futures edged higher amid expectations that cold weather will result in a further substantial drawdown domestic distillate stocks. Brent futures eased amid ongoing concerns over global demand following the release of disappointing economic data from the US and China.

NAPHTHA: $933.50-935.50/tonne CFR Japan, down $1.00-2.00/tonne
Open-spec second-half March naphtha prices extended losses in afternoon trading on mild losses in crude futures.

BENZENE: $1,323-1,326/tonne FOB Korea, up $5-6/tonne
A deal was done at $1,302/tonne FOB Korea for April lifting, and another deal for March loading was done at $1,326/tonne FOB Korea, in mid-afternoon.

TOLUENE:  $1,077-1,096/tonne FOB Korea, stable
Talks for March cargoes were heard at $1,085-1,087/tonne FOB Korea. Discussions for April lots were cited at $1,092-1,097/tonne FOB Korea, narrower than the morning’s buy-sell indications at $1,087-1,097/tonne FOB Korea. 

ETHYLENE: $1,480-1,500/tonne CFR NE Asia, unchanged
Producers in northeast Asia targeted export prices at $1,400-1,450/tonne FOB NE Asia for March shipments.

PROPYLENE: $1,465-1,475/tonne CFR NE Asia, steady
Traders’ buying ideas were capped at $1,380-1,390/tonne FOB Korea for March shipments, against selling ideas at up to $1,430/tonne FOB Korea.

By Staff Reporter