EVENING SNAPSHOT - Asia Markets Summary

09 July 2007 10:38  [Source: ICIS news]

SINGAPORE (ICIS news)--Here is Monday’s end of day Asian oil and chemical market summary from ICIS pricing.

 

CRUDE: August WTI $72.12/bbl down 69 cents; August BRENT $75.06/bbl down 56 cents

 

Crude futures prices eased on Monday in Asia amid profit taking. However, worries remain over the security of oil exports from Nigeria, following the recent upsurge in violence. Concerns over summer US gasoline stocks remain another supportive factor.

 

NAPHTHA: Open spec naphtha prices eased. The second half August contract was quoted lower at $706-708/tonne CFR Japan, down $6-7/tonne from Friday’s close. The first half September was valued at $705-707/tonne CFR.

 

BENZENE: Prices edged lower with offers for any August parcels of big berth condition cited at $1,065-1,070/tonne FOB Korea against bids at $1,055/tonne. An offer for a normal berth first half August parcel was also heard at $1,070/tonne, with no bid heard.

 

TOLUENE: Prices were about $5/tonne lower with offers heard at $890/tonne FOB Korea for August against bids at $870-875/tonne FOB. No trades could be detected.

 

MIXED XYLENE: An offer for isomer grade was cited at $930/tonne FOB Korea that met a bid at $910/tonne for any August lifting, lower than last week’s closing level. Solvent grade deals in eastern China were heard at yuan (CNY) 8,500-8,600/tonne ex-tank and in southern China at CNY8,700-8,800/tonne ex-tank, largely stable from Friday.

 

For more pricing intelligence, please visit www.icispricing.com. 

By: Staff Reporter
+44 20 8652 3214

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