NOON SNAPSHOT Asia Markets Summary

04 March 2014 04:00 Source:ICIS News

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

CRUDE: Apr WTI $104.65/bbl, down 27 cents/bbl; Apr BRENT $111.18/bbl, down 2 cents/bbl
Crude futures softened after gaining ground the previous day amid tensions between Ukraine and Russia following Moscow’s occupation of the Crimea region.

NAPHTHA: $955.50-957.50/tonne CFR Japan, up 50 cents/tonne
Open-spec second-half April prices were up slightly as Brent crude futures were largely stable.

BENZENE: $1,250-1,252/tonne FOB Korea, down $10-13/tonne
April bids were at $1,241-1,250/tonne FOB Korea, while a separate offer was quoted at $1,262/tonne FOB Korea. Four May deals were heard concluded at $1,232-1,236/tonne FOB Korea.

TOLUENE: $1,067-1,083/tonne FOB Korea, down $2-5/tonne
Prices moved tandem with the key Chinese domestic market, which opened strong but lost momentum towards midday.

ETHYLENE: $1,490-1,500/tonne CFR NE Asia, up $10/tonne at the low end
Sellers aimed for prices at $1,510-1,520/tonne CFR NE Asia for March delivery, while buying ideas were mainly at below $1,500/tonne CFR NE Asia.

PROPYLENE: $1,440-1,450/tonne CFR NE Asia, stable
Buying ideas remained flat at $1,440/tonne CFR NE Asia and below for end-March and early-April delivery cargoes.

By Staff Reporter