NOON SNAPSHOT - Asia Markets Summary

25 November 2008 04:00  [Source: ICIS news]

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

 

CRUDE: January WTI $53.65/bbl down 85 cents January BRENT $53.00/bbl down 93 cents

 

Crude futures weakened on Tuesday, falling back below $54/bbl after gaining nearly 10% the previous day. Prices had risen sharply on Monday amid a strong rally in stock markets and on expectations that OPEC will cut production.

 

NAPHTHA: Asian naphtha prices opened firmer Tuesday. First half January price indications were pegged at $286.50-289.50/tonne CFR (cost and freight) Japan, second half January at $292.50-295.50/tonne CFR Japan and first half February at $298.50-301.50/tonne CFR Japan.

 

BENZENE: Prices firmed on notional basis to $320-330/tonne FOB (free on board) Korea with selling ideas heard at $350/tonne FOB Korea that met buying ideas for December shipment at $320/tonne FOB Korea.

 

TOLUENE: Prices remained at $390-400/tonne FOB Korea with an offer heard for second half December loading at $410/tonne FOB Korea. A bid also surfaced for January loading at $380/tonne FOB Korea.

 

For more pricing intelligence, please visit ICIS pricing.

By: Staff Reporter
+44 20 8652 3214

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