EVENING SNAPSHOT - Asia Markets Summary

09 December 2008 10:00  [Source: ICIS news]

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

CRUDE: January WTI $43.57/bbl down 14 cents January BRENT $43.32/bbl down 10 cents

Crude futures softened on Tuesday afternoon in Asia, after gaining over $3/bbl the previous day. Crude prices had surged on Monday on a rally in share markets and reports of further cuts in supplies from Saudi Arabia.

NAPHTHA: Second half January open spec naphtha was assessed at $295.50-296.50/tonne CFR (cost and freight) Japan up around $35-36/tonne on the previous day following gains in crude oil. The backwardation between the second half January contract and the first half February contract was maintained at $2/bbl. First Half February open spec naphtha was assessed at $293.50-294.50/tonne CFR Japan.

BENZENE: Prices were at $270-280/tonne FOB (free on board) Korea as an offer was heard at $290/tonne FOB Korea for any January lifting. A deal was heard at $285/tonne FOB Korea for any February loading.

TOLUENE: Bids for January loading cargoes were heard at $400-415/tonne FOB Korea, with no offers heard. Prices were at $410-420/tonne FOB Korea.

For more pricing intelligence, please visit ICIS pricing.

By: Staff Reporter
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