NOON SNAPSHOT - Asia Markets Summary

07 October 2008 05:00  [Source: ICIS news]

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

 

CRUDE: November WTI $89.68/bbl up $1.87 November BRENT $85.04/bbl up $1.36

 

Crude futures strengthened on Tuesday morning in Asia. Buyers stepped back into the market after losses of over $6/bbl the previous day which took prices to their lowest level in eight months. The rise was supported by a softening in the US dollar which moved off 13 month highs against the Euro hit on Monday.

 

NAPHTHA: Asian naphtha prices opened softer Tuesday. Second half November prices indications were pegged at $689.50-692.50/tonne CFR (cost and freight) Japan, first half December at $701.50-704.50/tonne CFR Japan and second half December at $712.00-715.00/tonne CFR Japan.

 

BENZENE: Prices tumbled to $900-910/tonne FOB (free on board) Korea on Tuesday, reflecting November prices on notional basis. A deal was heard for December loading at $900/tonne FOB Korea.

 

TOLUENE: Prices continued falling on the back of lower crude values and were at $830-845/tonne FOB Korea as an offer for November loading was heard at $845/tonne FOB Korea. Buy-sell indications for December were heard at $800-840/tonne FOB Korea.

 

For more pricing intelligence, please visit ICIS pricing.

By: Staff Reporter
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