NOON SNAPSHOT - Asia Markets Summary

12 May 2008 05:00  [Source: ICIS news]

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

 

 

CRUDE: June WTI $125.59/bbl down $0.37/bbl June BRENT $124.92/bbl down $0.48/bbl

 

Crude futures weakened on Monday morning in Asia, after hitting new record highs last Friday. Nevertheless, supply concerns remain a major driver amid increased unrest in the Middle East. Turkey launched further airstrikes on Kurdish targets in northern Iraq over the weekend. Meanwhile in Lebanon, fighting continued between Hezbollah and pro Government forces.

 

 

NAPHTHA: Asian naphtha prices opened higher Monday. Second half June prices indications were pegged at $1,015.00-1,018.00/tonne CFR (cost and freight) Japan, first half July at $1,015.50-1,018.50/tonne CFR Japan and second half July at $1,016.00-1,019.00/tonne CFR Japan.

 

 

BENZENE: Buying indications for second-half June were heard at $1,205/tonne FOB (free on board) Korea while selling indications were limited. In eastern China, domestic prices remained around CNY 9,200-9,300/tonne ex-tank.

 

 

TOLUENE: Prices were notionally up $5-10/tonne to $1,135-1,145/tonne FOB Korea on the back of higher gasoline and crude values. Trading activity was heard to be thin this morning due to a public holiday in Korea.

 

 

For more pricing intelligence, please visit ICIS pricing.

 

By: Staff Reporter
+44 20 8652 3214

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