NOON SNAPSHOT - Asia Markets Summary

05 December 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 $44.03/bbl up 36 cents January BRENT $42.35/bbl up 7 cents

Crude futures edged higher on Friday morning in Asia but still near 4 year lows. Prices slumped on Thursday amid news of US retail sales and reports that the number of jobless workers collecting benefits in the US had hit a 26 year high.

NAPHTHA: Asian naphtha prices opened softer Friday. Second half January price indications were pegged at $251.50-254.50/tonne CFR (cost and freight) Japan, first half February at $249.50-252.50/tonne CFR Japan and second half February at $250.50-253.50/tonne CFR Japan.

BENZENE: Prices were notionally assessed unchanged at $290-305/tonne FOB (free on board) Korea. An offer was heard at $310/tonne FOB Korea for any February loading.

TOLUENE: Prices eased to $400-410/tonne FOB Korea on Friday in line with the overnight fall in crude values. An offer was heard at $410/tonne FOB Korea for a second half January loading cargo.

For more pricing intelligence, please visit ICIS pricing.

By: Staff Reporter
+44 20 8652 3214

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