NOON SNAPSHOT - Asia Markets Summary

06 January 2009 04:00  [Source: ICIS news]

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

CRUDE: February WTI $48.30/bbl down $0.51; February Brent $49.37/bbl down $0.25

Crude futures eased on Tuesday after nearly hitting the $50/bbl mark on Monday due to mounting evidence of OPEC output curb compliance and continued violence in the Middle East. Reports of Iran cutting oil supplies to Asian customer by up to 14% limited losses in crude values.

NAPHTHA: Asian naphtha prices opened firmer Tuesday. Second half February price indications were pegged at $384.50-387.50/tonne CFR (cost and freight) Japan, first half March at $378.50-381.50/tonne CFR Japan and second half March at $375.50-378.50/tonne CFR Japan.

BENZENE: Prices remained on an uptrend on Tuesday morning and were at $325-335/tonne FOB (free on board) Korea. An offer was heard at $350/tonne FOB Korea countered by a bid at $320/tonne FOB Korea for any February loading.

TOLUENE: Prices firmed to $460-470/tonne FOB Korea on Tuesday morning with an offer heard at $485/tonne FOB Korea against a bid at $450/tonne FOB Korea for any February lifting.

For more pricing intelligence, please visit ICIS pricing.

By: Staff Reporter
+44 20 8652 3214

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