NOON SNAPSHOT- Asia Markets Summary

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

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

 

CRUDE: November WTI $88.30/bbl down $0.65; November BRENT $83.82/barrel down $0.54.  

 

Oil fell to $88/bbl as a global economic slowdown capped demand. A much larger than expected rise in U.S. crude and gasoline inventories also added downward pressure. November WTI was at $88.30/bbl down $0.65 and November Brent at $83.82/barrel down $0.54. 

 

NAPHTHA: Asian naphtha prices opened firmer Thursday. Second half November prices indications were pegged at $648.00-651.00/tonne CFR (cost and freight) Japan, first half December at $662.00-665.00/tonne CFR Japan and second half December at $675.00-678.00/tonne CFR Japan.

 

BENZENE: Prices were largely stable at $860-870/tonne FOB (free on board) Korea amid slow discussions. An offer was heard at $890/tonne FOB Korea that met a bid at $830/tonne FOB Korea for any December loading.

 

TOLUENE: Prices notionally edged lower to $785-800/tonne FOB Korea. Few buy-sell indications surfaced for November shipments with one offer heard for December loading at $795/tonne FOB Korea.

 

For more pricing intelligence, please visit ICIS pricing.

By: Staff Reporter
+44 20 8652 3214

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