EVENING SNAPSHOT - Asian Markets Summary

08 August 2008 11:05  [Source: ICIS news]

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

 

CRUDE: September WTI $118.08/bbl down $1.92 September BRENT $115.95/bbl up $2.05

 

Crude lost ground on Friday afternoon in Asia, as supply concerns over the Baku-Tbilisi-Ceyhan (BTC) was downplayed after the Turkish Energy Ministry said that the blaze is expected to be put out over the weekend and operations resumed within 10 days.

 

Royal Dutch Shell said that repairs on its Nigerian pipeline while the strengthening of the dollar against the Euro from months of weakness also contributed to the drop in crude values.

 

NAPHTHA: Asian naphtha prices closed weaker on Friday afternoon, with second half Sep open spec naphtha notionally assessed at $1,011-1,013/tonne CFR (cost and freight) Japan, down about $15.00/tonne, with an offer heard at $1,013/tonne CFR Japan. First half Oct was notionally assessed at $1,016-1,018/tonne CFR Japan, a decline of $14.00/tonne.

 

BENZENE: Prices were assessed lower at $1,195-1,205/tonne FOB (free on board) Korea on Friday, with two deals heard at $1,195/tonne FOB Korea for any September loading and at $1,200/tonne FOB Korea for any October lifting.

 

TOLUENE: Prices edged lower to $1,105-1,115/tonne FOB Korea as offers were heard at $1,116-1,120/tonne FOB Korea mostly with bids heard at $1,100/tonne FOB Korea for September loading cargoes.

 

 

For more pricing intelligence, please visit ICIS pricing.

By: Staff Reporter
+44 20 8652 3214

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