NOON SNAPSHOT - Asia Markets Summary

04 December 2008 04:00  [Source: ICIS news]

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

CRUDE: January WTI $45.55/bbl down $1.24 January BRENT $43.80/bbl down $1.64

Crude futures slumped on Thursday morning in Asia to near 4 year lows. Prices plummeted amid growing concerns over the global economy and despite US inventory data revealing unexpected draws in crude and product stocks.

NAPHTHA: Asian naphtha prices opened stable Thursday. Second half January price indications were pegged at $279.00-282.00/tonne CFR (cost and freight) Japan, first half February at $277.00-280.00/tonne CFR Japan and second half February at $277.00-280.00/tonne CFR Japan.

BENZENE: Prices remained for the third consecutive day at $290-305/tonne FOB (free on board) Korea on notional basis. An offer surfaced at $310/tonne FOB Korea for any January lifting.

TOLUENE: Prices firmed to $400-415/tonne FOB Korea with an offer heard at $420/tonne FOB Korea against a bid at $400/tonne FOB Korea for any January lifting.

For more pricing intelligence, please visit ICIS pricing.

By: Staff Reporter
+44 20 8652 3214

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