EVENING SNAPSHOT - Asia Markets Summary

09 October 2008 10:38  [Source: ICIS news]

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

 

CRUDE: November WTI $89.28/bbl up 33 cents November BRENT $84.48/bbl up 12 cents

 

Crude futures were trading higher by late afternoon on Thursday in Asia after a day of volatile trading. Crude lost more than $1/bbl at one stage amid ongoing fears that the financial turmoil will result in a fall in global demand. However, a weakening of the US dollar against the Euro provided support.

 

NAPHTHA: Asian naphtha prices closed steady Thursday. Second half November prices indications were pegged at $632.50-633.50/tonne CFR (cost and freight) Japan, first half December at $646.50-647.50/tonne CFR Japan and second half December at $660.50-661.50/tonne CFR Japan.

 

BENZENE: Prices remained at $860-870/tonne FOB (free on board) Korea amid very slow discussions. A single bid surfaced at $840/tonne FOB Korea for November loading.

 

TOLUENE: Prices slid to about $775-790/tonne FOB Korea with an offer heard for November loading at $790/tonne FOB Korea. A deal was heard at $780/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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