NOON SNAPSHOT - Asia Markets Summary

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

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

 

CRUDE: January WTI $53.81/bbl n/a  January BRENT $52.95/bbl down 18 cents

 

Crude futures eased on Friday morning in Asia ahead of an OPEC meeting in Cairo. The organisation is expected to discuss further supply cuts amid a fall in demand resulting from the ongoing global economic slowdown. There was no floor trading or settlement on NYMEX on Thursday due to the Thanksgiving Holiday.

 

NAPHTHA: Asian naphtha prices opened firmer Friday. First half January price indications were pegged at $338.00-341.00/tonne CFR (cost and freight) Japan, second half January at $336.00-339.00/tonne CFR Japan and first half February at $336.00-339.00/tonne CFR Japan.

 

BENZENE: Prices were notionally assessed unchanged at $340-355/tonne FOB Korea on Friday morning as no buy-sell indications surfaced. A bid was heard for second half January arrival at $290/tonne CFR Singapore

 

TOLUENE: Trading was sluggish with no FOB Korea buy-sell numbers surfacing. Prices were assessed unchanged at $410-425/tonne FOB Korea.

 

For more pricing intelligence, please visit ICIS pricing.

By: Staff Reporter
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