NOON SNAPSHOT - Asia Markets Summary

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

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

 

CRUDE: June WTI $127.28/bbl up $0.23/bbl July BRENT $125.17/bbl up $0.11/bbl

 

Crude futures firmed on Tuesday morning in Asia, with June NYMEX light sweet crude (WTI) again trading above $127/bbl. Crude continued to trade near record levels supported by supply worries, strong diesel demand, and continued OPEC reluctance to raise output levels.

 

 

NAPHTHA: Asian naphtha prices open early Tuesday on a firmer note after crude markets broke record high levels this week. The first half of July contract was up by $15.50/tonne over Friday, notionally pegged at $1,041.00-1,044.00/tonne CFR (cost-and-freight) Japan early Tuesday. The second half July was indicated at $1,040.00-1,043.00/tonne CFR Japan and first half of August at $1,039.50-1,042.50/tonne CFR Japan.

 

 

BENZENE: Prices were notionally assessed stable at $1,235-1,250/tonne FOB (free on board) Korea, amid thin trading on Tuesday morning. No buy-sell indications for June and July loading could be located.

 

 

TOLUENE: No June indications were heard, leaving prices stable at $1,150-1,160/tonne FOB Korea. An offer was heard for July loading at $1,170/tonne FOB Korea that met a bid at $1,155/tonne FOB Korea.

 

 

For more pricing intelligence, please visit ICIS pricing.

By: Staff Reporter
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