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Asia Markets Summary

2017-11-22 10:06:12

CRUDE: Jan BRENT $62.60/bbl, down $0.12/bbl;  Dec WTI $56.63/bbl, up $0.08/bbl

Crude futures were trading close to last Friday’s exchange closing values. Attention was focussed on the upcoming OPEC meeting at the end of the month where members are expected to agree to extend output cuts. However, support for an extension by of non-OPEC producers such as Russia remains uncertain

NAPHTHA: $590.25-592.25/tonne CFR Japan, up $6.50/tonne

First-half January delivery open-spec naphtha prices were assessed up during early hours session, buoyed by gains in crude oil futures.

BENZENE: $851-857/tonnne FOB Korea, up $18/tonne

A strong close over in the US propped up Asia benzene prices this morning. Bids for January parcels rose to $852-855/tonne FOB Korea while offers were limited. Bids for February lots were cited at $845-857/tonne FOB Korea versus offers at above $860/tonne FOB Korea.

TOLUENE: $675-685/tonne FOB Korea, up $20/tonne on the low end

H2 December bids were at $675-677/tonne FOB Korea, against no offers. January offers were at $682-685/tonne FOB Korea.

ETHYLENE: $1,260-1,280/tonne CFR NE Asia, stable

Buyers in China targeted prices mainly in the mid $1,200s/tonne CFR NE Asia for December delivery.

PROPYLENE: $930-950/tonne CFR NE Asia, stable

Buying indications were largely under $950/tonne CFR NE Asia.



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