NOON SNAPSHOT - Asia Markets Summary

25 July 2008 05:00  [Source: ICIS news]

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

 

CRUDE: September WTI $125.58/bbl up 9 cents September BRENT $126.60/bbl up 16 cents

 

Crude prices were rangebound on Friday morning in Asia. Crude had regained over $1/bbl the previous day after falling to the lowest level since early June amid growing evidence that high prices and the economic downturn in the US were having a negative impact on demand.

 

 

NAPHTHA: Naphtha prices in Asia firmed on Friday morning mirroring the upturn in crude values. The first half September open spec naphtha contract was assessed at $1,072.50-1,075.50/tonne CFR (cost and freight)  Japan on Friday morning, up around $9-12/tonne. The second half September contract was assessed at $1,071.50-1,074.50/tonne CFR Japan, also up around $9-12/tonne.

 

 

BENZENE: Prices were lower at $1,290-1,300/tonne FOB (free on board) Korea with offers heard at $1,300-1,302/tonne FOB Korea against bids at $1,285/tonne FOB Korea for September loading cargoes. A deal was heard at $1,300/tonne FOB Korea for September loading.

 

 

TOLUENE: Prices were largely stable at $1,165-1,175/tonne FOB Korea on Friday, with offers heard at $1,185/tonne FOB Korea against bids at $1,165/tonne FOB Korea for September loading.

 

For more pricing intelligence, please visit ICIS pricing.

By: Staff Reporter
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