SINGAPORE (ICIS)--Here is Wednesday’s end-of-day Asia oil and chemical markets summary.
CRUDE: May WTI $40.13/bbl, down 95 cents/bbl; June BRENT $43.21/bbl, down 82 cents/bbl
Crude prices continued to trade lower, following news that Kuwaiti oil workers had ended their strike, which had cut the nation’s crude production by 60%. Further downward pressure was generated by industry data that revealed another rise in US crude stocks.
NAPHTHA: $393-395/tonne CFR Japan, down $3/tonne
First-half June open-spec naphtha prices fell rose in response to rising supply.
BENZENE: $629-636/tonne FOB Korea, down $6/tonne
A June deal was concluded at $630/tonne FOB Korea. Offer for June was at $633-635/tonne FOB Korea, against bids at $625-629/tonne FOB Korea. July offers were at $630-635/tonne FOB Korea against bids at $626-628/tonne.
TOLUENE: $600-610/tonne FOB Korea, down $5/tonne at the high end
June bids were at $605-608/tonne FOB Korea, against offers at $610-620/tonne FOB Korea.
ETHYLENE: $1,180-1,200/tonne CFR NE Asia, stable
A cargo of more than 4,000 tonnes for early-May loading was sold into China at ICIS CFR NE Asia-linked pricing formula.
PROPYLENE: $730-740/tonne CFR NE Asia, unchanged
Discussions were largely heard between $730-740/tonne CFR NE Asia for May-arrival cargoes, and higher selling indications were heard at $750/tonne CFR NE Asia amid news of supply disruption from South Korea.
STYRENE MONOMER: $1,075-1,085/tonne CFR China, up $15/tonne
Prices extended their gains, with several May deals heard concluded at $1,080-1,085/tonne CFR China, while a June fixture was finalised at $1,075/tonne CFR China.