EVENING SNAPSHOT - Asia Markets Summary

27 November 2008 09:32  [Source: ICIS news]

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

 

CRUDE: January WTI $53.32/bbl down $1.12 January BRENT $52.89/bbl down $1.03

 

Crude fell more than $1/bbl on Thursday as concerns over waning demand re-emerged following gains of around 7% the previous day. Wednesday rise was driven principally by short covering ahead of the Thanksgiving Holiday and mirrored gains in the stock market.

 

NAPHTHA: Asian naphtha prices closed firmer Thursday. First half January price indications were pegged at $332.50-333.50/tonne CFR (cost and freight) Japan, second half January at $332.50-333.50/tonne CFR Japan and first half February at $335.50-336.50/tonne CFR Japan.

 

BENZENE: Prices rebounded to $340-355/tonne FOB (free on board) Korea with two bids heard at $340-350/tonne FOB Korea for December shipments. Despite the higher bids, sellers remained on the sidelines.

 

TOLUENE: Prices also firmed in tandem with bids for December loading cargoes moving up during afternoon’s trading to $410-420/tonne FOB Korea. A bid was also heard at $410/tonne FOB Korea for January shipment.

 

 

For more pricing intelligence, please visit ICIS pricing. 

By: Staff Reporter
+44 20 8652 3214

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