EVENING SNAPSHOT - Asia Markets Summary

28 November 2008 09:58  [Source: ICIS news]

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

 

CRUDE: January WTI $53.07/bbl n/a January BRENT $52.43/bbl down 70 cents

 

Crude futures weakened on Friday afternoon in Asia. Attention was focussed on an upcoming OPEC meeting in Cairo where 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 for NYMEX Light Sweet Crude futures (WTI) on Thursday due to the Thanksgiving Holiday.

 

NAPHTHA: Asian naphtha prices closed softer Friday. First half January price indications were pegged at $325.50-326.50/tonne CFR (cost and freight) Japan, second half January at $323.50-324.50/tonne CFR Japan and first half February at $323.50-324.50/tonne CFR Japan.

 

BENZENE: Prices remained at $340-350/tonne FOB (free on board) Korea with two deals heard at $350/tonne FOB Korea for second half December loading cargoes. A bid was heard earlier at $330/tonne FOB Korea for December lifting, while an offer was cited at $370/tonne FOB Korea for January shipment.

 

TOLUENE: Prices were at $410-420/tonne FOB Korea at Friday’s close with bids for January loading heard at $400-410/tonne FOB Korea. No offers were heard.

 

For more pricing intelligence, please visit ICIS pricing.

By: Staff Reporter
+44 20 8652 3214

< previous article(ICIS Podcast: Chemical News Central 2 November 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly