EVENING SNAPSHOT Asia Markets Summary

05 August 2014 11:00 Source:ICIS News

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

CRUDE: Sept WTI $98.58/bbl, up 29 cents/bbl; Sept BRENT $105.43/bbl up 2cents/bbl
Crude continued to trade higher amid renewed worries over violence in Libya, in Iraq and in Gaza. Expectations of fall in US crude inventories added further support to the market.

NAPHTHA:  $916.50-918.50/tonne CFR Japan, down $16.50-17.50/tonne
Open-spec second-half September naphtha spiralled down on ample inflows from the West. The first-half October contract was traded twice at $915/tonne.

BENZENE: $1,288-1,290/tonne FOB Korea, up $3/tonne at the low end
A September deal was settled at $1,290/tonne FOB Korea. October bids were at $1,267-1,270/tonne FOB Korea, with no firm counter bid.

TOLUENE: $1,142-1,150/tonne FOB Korea, up $3-7/tonne  
October offers were at $1,146-1,152/tonne FOB Korea, against bids at $1,140-1,145/tonne FOB Korea. For September loading, bids were at $1,145-1,147/tonne FOB Korea.

ETHYLENE: $1,560-1,570/tonne CFR NE Asia, stable
Buying ideas were unchanged in the low- to mid-$1,500/tonne CFR NE Asia levels for end-August and first-half September arrival cargoes, against selling ideas in the high-$1,500/tonne CFR NE Asia levels or above.

PROPYLENE: $1,450-1,460/tonne CFR NE Asia, unchanged
A Korean producer offered a first-half September shipment at $1,410/tonne FOB Korea, against a bid at $1,400/tonne FOB Korea.

By Staff Reporter