NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: February WTI $40.53/bbl down 30 cents February BRENT $44.63/bbl up 21 cents

Crude futures edged towards the $40/bbl mark again despite output curbs by Saudi Arabia. Speculations of further production cuts by OPEC in March rose in Monday’s morning trade.

NAPHTHA: Asian naphtha prices opened softer Monday. Second half February price indications were pegged at $366.00-369.00/tonne CFR (cost and freight) Japan, first half March at $359.00-362.00/tonne CFR Japan and second half March at $354.00-357.00/tonne CFR Japan.

BENZENE: Buying indication for March parcels were heard at $320/tonne FOB (free on board) Korea while selling indications were limited.

TOLUENE: No fresh indications surfaced in the morning as the market started off largely subdued. Prices were notionally assessed unchanged at $470-480/tonne FOB Korea.

For more pricing intelligence, please visit ICIS pricing.

By: Staff Reporter
+44 20 8652 3214

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