NOON SNAPSHOT - Asia Markets Summary

06 August 2008 05:00  [Source: ICIS news]

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

 

CRUDE: September WTI $118.25/bbl down $0.70 September BRENT $117.00/bbl down $1.10

 

Crude prices fell on Wednesday after the US Minerals Management Service said that tropical storm Edouard only caused minor oil and natural gas outages coupled with OPEC’s unlikely move to alter oil outputs to reverse recent price plunges.

 

NAPHTHA: Asian naphtha prices softened on Wednesday in tandem with weaker crude values. Second half September open spec naphtha contract was assessed at $995.00-998.00/tonne CFR (cost and freight) Japan, down about $20.00/tonne. First half October open spec naphtha contract was assessed at $997.00-999.00/tonne CFR Japan, a decline of about $19.00/tonne.

 

BENZENE: Prices fell to $1,200-1,215/tonne FOB (free on board) Korea with an offer heard at $1,215/tonne FOB Korea for any September loading, $25/tonne lower than a deal heard on Tuesday.

 

TOLUENE: Prices slipped to $1,220-1,230/tonne FOB Korea, $15-20/tonne lower from Tuesday’s close. An offer was heard at $1,135/tonne FOB Korea for any September loading, with no bid heard.

 

For more pricing intelligence, please visit ICIS pricing.

 

 

By: Staff Reporter
+44 20 8652 3214

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