EVENING SNAPSHOT - Asia Markets Summary

07 October 2008 10:30  [Source: ICIS news]

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

 

CRUDE: November WTI $89.68/bbl up $1.87 November BRENT $84.92/bbl up $1.96

 

Crude futures made large gains on Tuesday, with US Nymex light sweet crude futures (WTI) gaining more than $3/bbl at one stage.  Prices rose as the US dollar eased off highs and hopes were raised of global interest rate cuts after sharp falls to eight months lows the previous day.

 

NAPHTHA: Asian naphtha prices closed softer Tuesday. Second half November prices indications were pegged at $685.50-686.50/tonne CFR (cost and freight) Japan, first half December at $697.50-698.50/tonne CFR Japan and second half December at $709.50-710.50/tonne CFR Japan.

 

BENZENE: Trading picked up pace in the afternoon with three deals for December heard at $912-920/tonne FOB (free on board) Korea. But prices remained at about $900-915/tonne FOB Korea on notional basis.

 

TOLUENE: Discussions for November cargoes remained thin with an offer heard at $842/tonne FOB Korea. A deal for any December loading was heard at $832/tonne FOB Korea.

 

For more pricing intelligence, please visit ICIS pricing.

By: Staff Reporter
+44 20 8652 3214

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