NOON SNAPSHOT Asia Markets Summary

26 May 2014 05:00 Source:ICIS News

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

CRUDE: Jul WTI $104.04/bbl, down 31 cents/bbl; Jul BRENT $110.10/bbl, down 44 cents/bbl
Crude futures  were trading below the previous session’s close, but downside pressure was limited by supply concerns generated by unrest in Libya and the ongoing Ukraine crisis.

NAPHTHA: $976.00-979.00/tonne CFR Japan, up $0.50-$1.50/tonne
Open-spec first-half July naphtha edged higher on firmer gasoline blending demand.

BENZENE: $1,262-1,278/tonne FOB Korea, up $4-8/tonne
July offers stood at $1,265-1,275/tonne FOB Korea against bids at $1,255-1,264/tonne FOB Korea. Offers-bids for second-half June were at $1,270-1,285/tonne FOB Korea.

TOLUENE: $1,060-1,077/tonne FOB Korea, up $4/tonne at the high end
August discussions dominated the morning session. Towards noon, August offers were at $1,080/tonne FOB Korea, while bids were at $1,073/tonne FOB Korea. July bids were heard at $1,070-1,072/tonne FOB Korea.

ETHYLENE: $1,435-1,440/tonne CFR NE Asia, stable
Buying ideas were stable at $1,400-1,430/tonne CFR NE Asia for June-arrival cargoes.

PROPYLENE: $1,420-1,435/tonne CFR NE Asia, flat
Selling ideas at above $1,430/tonne CFR CMP for June-arrival cargoes were not workable for buyers.

By Staff Reporter