EVENING SNAPSHOT - Asia Market's Summary

11 August 2008 11:15  [Source: ICIS news]

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

 

 

CRUDE: September WTI $115.90/bbl up 70 cents September BRENT $113.99/bbl up 66 cents

 

Crude prices strengthened on Monday in Asia, but prices had eased off highs hit earlier in the day by late afternoon. Crude values had surged amid concerns that military conflict between Russia and Georgia could further disrupt supplies from the Caspian region.

 

 

NAPHTHA: Asian naphtha prices eased following sharp falls in crude oil last Friday. The second half September open spec naphtha contract was assessed at $1,000.50-1,002.50/tonne CFR Japan on Monday, down $10-11/tonne. The first half October open spec naphtha contract was valued at $1,008.50-1,010.50/tonne CFR Japan, down $7-8/tonne, thus widening the contango with second half September.

 

 

BENZENE: Prices were notionally assessed at $1,170-1,185/tonne FOB (free on board) Korea, with no fresh indications heard in the afternoon for September loading. An offer was heard at $1,200/tonne FOB Korea against a bid at $1,170/tonne FOB Korea for any October lifting

 

 

TOLUENE: Prices were assessed at $1,085-1,095/tonne FOB Korea as offers were heard for September loading at $1,099-1,105/tonne FOB Korea. No deals were heard.

 

For more pricing intelligence, please visit ICIS pricing.

By: Staff Reporter
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