NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: February WTI $42.62/bbl up 92 cents February BRENT $45.55/bbl up 88 cents

Crude edged higher on Friday’s morning trade despite expected weak US jobless

data due later on in the day. A larger than expected build in US crude stocks reveal earlier on in the week sparked a more than $6/bbl tumble in WTI that was initially edging towards the $50/bbl mark.

NAPHTHA: Asian naphtha prices closed softer Friday. Second half February price indications were pegged at $348.00-351.00/tonne CFR (cost and freight) Japan, first half March at $342.00-345.00/tonne CFR Japan and second half March at $339.00-342.00/tonne CFR Japan.

BENZENE: Prices firmed $5/tonne to $325-335/tonne FOB (free on board) Korea with a bid heard for any February loading at $325/tonne FOB Korea.

TOLUENE: Prices were largely stable at $470-480/tonne FOB Korea on the back of buying indications cited at $460-470/tonne FOB Korea for February shipments.

For more pricing intelligence, please visit ICIS pricing.

By: Staff Reporter
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