EVENING SNAPSHOT - Asia Markets Summary

06 October 2008 10:42  [Source: ICIS news]

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

 

CRUDE: November WTI $90.20/bbl down $3.66 November BRENT $86.84/bbl down $3.41

 

Crude futures fell sharply on Monday afternoon in Asia dropping to eight month lows and slumping more than $4/bbl at one stage. Prices plummeted as concerns built that the deepening credit crisis will reduce global oil demand.

 

NAPHTHA: Asian naphtha prices closed softer Monday. Second half November prices indications were pegged at $703.50-704.50/tonne CFR (cost and freight) Japan, first half December at $715.50-716.50/tonne CFR Japan and second half December at $725.50-726.50/tonne CFR Japan.

 

BENZENE: The market remained thinly discussed on Monday afternoon with prices hovering at about $950-960/tonne FOB (free on board) Korea. An offer was heard at $965/tonne FOB Korea that met a bid at $950/tonne FOB Korea for December lifting.

 

TOLUENE: Prices were lower at about $835-850/tonne FOB Korea with offers heard for November loading at $848-860/tonne FOB Korea that met a bid at $800/tonne FOB Korea. A deal was heard at $847/tonne FOB Korea for any December loading.

 

For more pricing intelligence, please visit ICIS pricing. 

By: Staff Reporter
+44 20 8652 3214

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