EVENING SNAPSHOT - Asia Markets Summary

20 May 2008 10:40  [Source: ICIS news]

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

 

CRUDE: June WTI $127.01/bbl down $0.04 July BRENT $124.78/bbl down $0.28

 

Crude futures edged lower on Tuesday afternoon in Asia. However, June NYMEX light sweet crude futures remained rose to record highs above $127/bbl. Prices were supported by supply worries, strong diesel demand, and continued OPEC reluctance to raise output levels.

 

 

NAPHTHA: Asian naphtha prices closed higher Tuesday. First half July prices indications were pegged at $1,042.50-1,043.50/tonne CFR (cost and freight) Japan, second half July at $1,041.50-1,042.50/tonne CFR Japan and first half August at $1,041.00-1,042.00/tonne CFR Japan.

 

 

BENZENE: Prices were assessed at a 12-year high at $1,250-1,260/tonne FOB (free on board) Korea. A deal was heard at $1,250/tonne FOB Korea for July loading.

 

 

TOLUENE: Prices touched a new high at $1,160-1,175/tonne FOB Korea with two deals reported at $1,165/tonne FOB Korea for second-half June loading and at $1,173/tonne FOB Korea for July lifting.

 

 

For more pricing intelligence, please visit ICIS pricing.

 

By: Staff Reporter
+44 20 8652 3214

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