Asia Markets Summary
SINGAPORE (ICIS news)--Here is Wednesday’s mid-day Asia oil and chemical market summary from ICIS pricing.
CRUDE: March WTI $37.91/bbl up 36 cents March BRENT $44.80/bbl up 19 cent
Crude futures firmed on Wednesday, after sharp falls the previous day. Prices edged higher after data from the American Petroleum Institute (API) revealed an unexpected decline in crude stocks. However, other s in the market await weekly data from the US government’s Energy Information Administration (EIA) , due out later on Wednesday, which is generally viewed as more reliable.
NAPHTHA: Asian naphtha prices opened softer Wednesday. Second half March price indications were pegged at $419.50-422.50/tonne CFR (cost and freight) Japan,first half April at $411.50-414.50/tonne CFR Japan and second half April at $403.50-406.50/tonne CFR Japan.
BENZENE: Buy-sell indications were limited in the morning with prices assessed notionally stable at $435-445/tonne FOB (free on board) Korea.
TOLUENE: Prices rose by yuan (CNY)100/tonne ($14.64/tonne) in eastern China to CNY5,050-5,100/tonne ex-tank, in response to a hike in domestic offers by a major Chinese producer. The FOB market was quiet, with no bids or offers heard, prices were unchanged at $595-610/tonne FOB Korea.
CRUDE: March WTI $37.91/bbl up 36 cents March BRENT $44.80/bbl up 19 cent
Crude futures firmed on Wednesday, after sharp falls the previous day. Prices edged higher after data from the American Petroleum Institute (API) revealed an unexpected decline in crude stocks. However, other s in the market await weekly data from the US government’s Energy Information Administration (EIA) , due out later on Wednesday, which is generally viewed as more reliable.
NAPHTHA: Asian naphtha prices opened softer Wednesday. Second half March price indications were pegged at $419.50-422.50/tonne CFR (cost and freight) Japan,first half April at $411.50-414.50/tonne CFR Japan and second half April at $403.50-406.50/tonne CFR Japan.
BENZENE: Buy-sell indications were limited in the morning with prices assessed notionally stable at $435-445/tonne FOB (free on board) Korea.
TOLUENE: Prices rose by yuan (CNY)100/tonne ($14.64/tonne) in eastern China to CNY5,050-5,100/tonne ex-tank, in response to a hike in domestic offers by a major Chinese producer. The FOB market was quiet, with no bids or offers heard, prices were unchanged at $595-610/tonne FOB Korea.
source: www.ICIS.com
