NOON SNAPSHOT Asia Markets Summary

14 February 2014 04:00 Source:ICIS News

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

CRUDE: Mar WTI $100.29/bbl, down 6 cents/bbl; Apr BRENT $108.47/bbl, down 5 cents/bbl
Crude futures were trading a few cents lower, pressured by downbeat US economic data. Recent falls in crude stocks at the landlocked Cushing terminal support US WTI crude futures.

NAPHTHA: $929-932/tonne CFR Japan, up $5-6/tonne
Open-spec second-half March naphtha rose on Friday midday, rebounding from recent losses on the back of fresh buying from Taiwan.

BENZENE: $1,310-1,316/tonne FOB Korea, up $2-4/tonne
Discussions levels inched up slightly, supported by firm styrene monomer (SM) market. Second-half March offers were at $1,320-1,330/tonne FOB Korea in absence of firm bids.

TOLUENE: $1,105-1,115/tonne FOB Korea, up $5/tonne at the low end
April bids gained over the morning session to $1,113/tonne FOB Korea from $1,105/tonne FOB Korea. An April was concluded at $1,112/tonne FOB Korea. April remained priced at a contango of $5-7/tonne to March.

ETHYLENE: $1,460-1,480/tonne CFR NE Asia, stable
A wide buy-sell gap has hampered  trade. Selling ideas in the mid-high $1,400/tonne CFR NE Asia levels were countered by buying ideas at $1,400-1,450/tonne CFR NE Asia for March deliveries.

PROPYLENE: $1,475-1,490/tonne CFR NE Asia, steady
Buying ideas were unchanged at $1,470-1,475/tonne CFR CMP for March deliveries, against selling ideas at $1,490-1,495/tonne CFR CMP.

By Staff Reporter