EVENING SNAPSHOT - Asia Markets Summary

08 January 2009 10:06  [Source: ICIS news]

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

CRUDE: February WTI $43.30/bbl up 67 cents February BRENT $46.77/bbl up 91 cents

Crude futures strengthened on Thursday with February ICE Brent futures gaining more than $1/bbl. Thursday’s rise followed a massive fall in prices the previous day which saw February NYMEX light sweet crude (WTI) lose nearly $6/bbl. Crude slumped on Wednesday after a larger than expected build in US crude stocks. Traders are now focussed on US jobless claims data due out later in the day.   

NAPHTHA: Asian naphtha prices closed softer Thursday. Second half February price indications were pegged at $351.50-352.50/tonne CFR (cost and freight) Japan, first half March at $345.50-346.50/tonne CFR Japan and second half March at $342.50-343.50/tonne CFR Japan.

BENZENE: Prices remained at $320-330/tonne FOB (free on board) Korea in the afternoon with a deal heard at $330/tonne FOB Korea for February lifting. Bids for any February loading were also cited at $320/tonne FOB Korea.

TOLUENE: Trading was thin on Thursday afternoon with a buying indication for any February heard at $465/tonne FOB Korea. Offers for March shipment surfaced at $490/tonne FOB Korea.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
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