EVENING SNAPSHOT - Asia Markets Summary

08 October 2008 10:51  [Source: ICIS news]

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

 

CRUDE: November WTI $86.88/bbl down $3.16 November BRENT $81.83/bbl down $2.83

 

Crude futures slumped on Wednesday in Asia, with US Nymex light sweet crude futures (WTI) falling $4/bbl at one stage.  Prices fell amid growing concerns that the global financial crisis will dampen demand for oil.

 

NAPHTHA: Asian naphtha prices closed softer Wednesday. Second half November prices indications were pegged at $633.50-634.50/tonne CFR (cost and freight) Japan, first half December at $647.50-648.50/tonne CFR Japan and second half December at $659.50-660.50/tonne CFR Japan.

 

BENZENE: Prices dipped to $860-870/tonne FOB Korea, a 21-month low, on the back of sliding crude values. An offer was heard at $900/tonne FOB Korea for December loading that met a bid at $850/tonne FOB Korea.

 

TOLUENE: Trading picked up pace even as prices slid to below $800/tonne FOB Korea. A December loading cargo was heard traded at $820/tonne FOB Korea following which two more parcels were heard traded at $790/tonne FOB Korea.

 

For more pricing intelligence, please visit ICIS pricing.

By: Staff Reporter
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